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Broadline distributor Interface Solutions’ parent company, Fayrewood, has admitted it is still in sale talks as it posted higher profits and revenues for 2007.
Alternative Investment Market-listed Fayrewood reported revenues of £129.6m for the twelve months to 31 December, up 6 per cent year-on-year. Pre-tax profits from continuing operations hit £936,000, comparing favourably to a loss of £242,000 in 2006.
The firm confirmed it is continuing discussions with shareholder, North Atlantic Value LLP, in relation to a possible offer for the company.
Further reading
Birmingham-based Interface is Fayrewood’s sole remaining subsidiary following the recent disposal of its French and Spanish subsidiaries.
Fayrewood conceded that Interface, an IBM and Lenovo distributor, had endured a “mixed year”, but claimed a recent managerial restructuring and reorganisation had placed it in a stronger position.
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