InTechnology meets expectations

Latest trading update claims business is in line with expectations despite drop in turnover

VAR InTechnology has assured the market business continues to tick along nicely following the disposal of its distribution wing eight months ago (CRN, 7 December).

The managed services specialist said in a statement following its AGM that trading continues to be “in line with expectations”.

It also claimed the UK launch of its ‘Push to Talk’ (PTT) managed service went ahead as planned in July and is “proceeding well”. The service is based on the technology of Mobile Tornado, an instant communications provider InTechnology invested in last September.

After selling its distribution unit to Arrow for £41m in December, InTechnology swiftly snapped up managed service specialist Evoxus (CRN, 12 January).

With turnover of £190m, the distribution division generated the bulk of its sales.

For its financial year to March 31 2007, InTechnology saw losses narrow from £12.4m to £7.6m, while turnover dropped from £284m to £186m.

The VAR announced it has also now completed the sale of its Harrogate freehold land and buildings, netting it an additional surplus of about £2.6m before tax.