Dutch systems and software house Raet NV saw its 1991 net profits crash following charges taken on an on-going restructuring plan that by next year will have reduced staff levels at the Utrecht-based concern by around 350 jobs – around 100 more than previously estimated. Net profit at the IBM Corp, Hewlett-Packard Co and Digital Equipment Corp systems house fell to the equivalent of just $185,000 from $13.0m the year before after the company took a one-time charge of $11.25m on restructuring. Other restructuring charges are expected this year, but group director H Matthes would give no forecast of 1992 profit levels. Raet, whose 1991 turnover was up 26% to $300m, largely on the back of acquisitions, ranks in the top 10 of Dutch computer companies. Raet is one of several large groups now looking to slim down as the actual state of the Netherlands computer market is far less buoyant than was widely held it would be some years ago. A spokesman for the company insisted, however, that the company had expected the slowing down of growth rates and that most of the charges asscociated with its so-called Focus ’92 restructuring plan had now been booked. Asked if the company was close to finding any more partners for its European Software & Services BV joint venture with the Finnish TT Group, he had no comment. Raet had previously said the 50-50%-owned joint venture was open to participations from both European and non-European groups.
