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February 26, 1997updated 05 Sep 2016 12:08pm

ADMIRAL TURNS ATTENTION TO TROUBLESOME BUSINESSES

By CBR Staff Writer

Admiral Plc has published a promising set of financial results following a year that has seen a staff increase of 33% and the majority of business sectors performing beyond expectation. The information technology services provider based in Camberley, UK says that the future looks bright, with the company continuing to expand further into international sectors. The company reported a 13.3% increase in profit for the year to December 31 to 7.2m pounds, while revenue rose 38.7% to 90.8m pounds. Admiral’s two main trading companies, Admiral Computing Ltd and Admiral Management Systems Ltd both performed well as did Admiral Australia and French subsidary Ares. The company is looking to expand its business in Belgium, alongside its existing subsidiary Delphy, and is actively seeking consultancy business to boost profits eminating from the country. Admiral is keen to move further into Europe and has plans for the coming year to acquire companies in Germany, Scandinavia and the Netherlands in a bid to propel itself forward. However, things have not been so rosy for the company’s product businesses, Admiral Customer Services and Admiral Software. The two companies have been merged to trade under the name of Admiral Customer Services and former managing director of Admiral Australia Brian Rowe has been appointed to head the newly-formed operaton in a bid to get the product side of the business back on its feet. Executive chairman Clay Brendish said that he is very pleased with the results. He commented: I think like a lot of IT companies we’re seeing that the market is a growth market and I’m relatively confident that there is a good future for us. Admiral proposes a dividend of 1.54p, making a total for the year to 2.24 pence.

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