Matrix posts results
Reseller group sees turnover increase after 'challenging' year
Matrix Communications Group's chief executive has hailed the last 18 months as "challenging" as the reseller group posted its end of year results.
Group turnover rose 413 per cent to £54.4m in 2005 from £10.6m in 2004; however £34m is sourced from businesses acquired during 2005, including the recently offloaded EquIP, Network Partners and Harrier.
Group finance director Chris Lee and executive director for integration, David Grant have both resigned with immediate effect, while "managerial reporting lines are being shortnened" following the EquIP sale.
Ian Smith, said: "The last 18 months have been challenging for Matrix encompassing a number of acquisitions and disposals, the extensive integration of the range of businesses plus a tightening of operational control.
"With the convergence of IT and telecoms services, we are now accelerating our strategy of integrating our IT products and services business with our telecoms network business to better service customers' fast-growing demand for fully integrated and managed voice and data services," added Smith.