Parity shows 52% rise
Wednesday 23 August 1995
Parity, the information technology service group formerly known as Compac, served up a 52 per cent rise in profits to pounds 3.07m for the first six months on the back of strong demand for IT consultancy in the UK.
Revenues moved up 62 per cent to pounds 61.5m, compared with pounds 38m in 1994. The dividend rose 33 per cent to 1p versus 0.75p in 1994 and earnings per share grew 37 per cent to 4.8p.
The increase was in line with analysts' expectations following the group's acquisition activity in 1994, and the share price was marked down 1p to 160p.
After a year of acquisitions in 1994, the chairman, Billy Carbutt, said the predominantly UK-based company would continue to expand its UK business and did not rule out expansion in other European countries.
Parity restructured its operations in December last year, merging its pounds 2.3m acquisition of LBMS and pounds 8.3m purchase of ACT Business Systems and BIS Training into Parity Solutions, a provider of consultancy, training and systems development.
- 1 Mario Balotelli: Staff at arson-hit Manchester Dogs' Home convinced Liverpool striker is behind five-figure donation
- 2 Friends 20th anniversary: Alison Jackson photographs reunited cast
- 3 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 4 The response to my Pizza Express review has been overwhelming, and taught me a lot about journalism
- 5 Free U2 album: How the most generous giveaway in music history turned into a PR disaster
Scottish independence: Despite defeat history may still point to Alex Salmond as the victor
Scottish independence referendum: Frankie Boyle reacts to nation's 'No' vote - 'To be fair, I've always hated Scotland'
Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
Scottish referendum: Police struggle to control Unionist rally in Glasgow's George Square
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: The Queen breaks silence on referendum debate – as think tank warns of £14bn black hole if Scotland votes Yes
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...