| Profits leap at ICM
Highlights of the interim results were: • Revenue £38.5m (same period 2005: £37.4m) Steve Wainwright, ICM's Chief Executive, commented: “These excellent results demonstrate a real jump in the Group's performance at all levels driven by the revised strategy and the rapid introduction of the London Essex Business Continuity centre towards the end of the last financial year… The Group's forward visibility remains strong with £24m of revenues already committed for the second half and the new Business Availability strategy is being well received by both existing customers and prospects.” A statement within the interim results confirmed that discussions with Phoenix IT and with a management buy-out team are still ongoing. The statement reads as follows (verbatim): “ICM announced in January 2007 that, following the previous unsolicited approach by Netstore which the Board rejected in December 2006, further approaches had been received from Phoenix IT and subsequently from a management backed vehicle. “An independent committee of the Board, comprising Graham Meek, Martin Clark and Charles Halle, continues to be in discussions with parties, including the ICM executive directors, which may or may not lead to an offer being made for ICM. “There can be no certainty that any offer will be made. Furthermore there can be no certainty as to the terms upon which any such offer might be made. Shareholders will be updated on further developments as appropriate.”
•Date: 6th March 2007 • Region: UK •Type: Article •Topic: BC markets
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