The Investment Column: Change at the top doesn't stop Druid
Thursday 02 October 1997
Druid's business is providing a package of management consultancy and IT solutions to blue-chip clients. Some 90 per cent of its turnover flows from installing SAP, a German software system which computerises and centralises management's financial controls. Worries that demand for SAP will tail off look premature. Besides, Druid is seeking alternatives.
Also encouraging is that Druid has avoided jumping on the millennium timebomb bandwagon and so looks relatively insulated from the chronic shortage of computer programmers. Rather than employing computer programmers, it prefers to recruit people who have business experience and then train them as IT management consultants. As a result staff turnover is low. A prospective p/e of 29 is hardly a bargain, but not yet too high. Fairly priced.
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