Ideal Hardware Plc, the New Malden, Surrey-based distributor of data storage products and computer hardware, faces unprecedentedly difficult market conditions as the global market for computer hardware continues to experience significant product oversupply. The shares plunged 30 pence, or 10.9% on the board’s warning, though it said performance for the full year should be in line with market expectations. In a statement, the board said that trading in the third quarter, usually the strongest, was significantly below the comparable period last year. Directors predict that stability will return to the market by the last quarter of this calendar year and profits growth will start again next year. In March, Ideal reported net profits for the six months to January 31 up 26.5% at 3.5m pounds on revenue that rose 33.2% to 110.4m pounds.
