Welwyn Garden City-based Compel Group Plc’s inaugural results were well received by the markets. Shares jumped 6p to 115p at half-yearly pre-tax profits of ú1.2m, up 20% on last time, from turnover up 16% to ú28.3m. The group, which provides personal computer and Unix based systems and services, floated last September (CI No 2,501), but disappointed by raising only ú2.5m. This has been used to repay debts and improve terms with suppliers. However, Compel is confident that the move towards client-server architectures and the trend towards outsourcing of computer services will continue to benefit it in line with expectations. It is currently in the process of integrating its Systems and Services Divisions into a single division to reflect the market, according to chairman Neville Davis. Compel opened an office in the City in November to improve its position in the capital. An encouraging start to the second half with orders ahead of the same stage last year, leads Neville and his board to view the scond half with confidence; an interim dividend of 1.43 pence will be paid.
