ICM Computer Group Plc is expecting a surge in business next year as chief executive Barry Roberts expects a different IT market in the new millennium. He says that the past two years have been characterized by caution rather than bold leaps forward in the use of IT. But Roberts insists that companies which have delayed the issue of competitiveness and e-business as a route to market will start to seriously address these issues post-millennium. This follows a year when ICM reported net income up 86.4% at 2.8m pounds ($4.5m) on revenue up 11.6% at 40m pounds ($64.4m).
The biggest part of the company’s business is IT services, which saw 13% growth last year and accounted for 57% of the company’s overall revenue, mostly from systems integration and software projects. However, the largest margins (11.6%) are earned in the IT support business where business sales grew 14% to account for 34% of total revenue. Heavy investment in business continuity operations saw revenue expand 27%, although margins are a slender 2.6% and it currently only represents 8.6% of revenue. ICM also says it is still on the lookout for acquisitions.
