Computer 2000?s American dream-turned-nightmare continued as the German company made a worsening 1997 loss of DM70.4 million, thanks to its US subsidiary Ameriquest.
European business pushed the company?s pre-tax 1997 profit up to DM61.4 million from DM10.1 million in 1996. But its net loss almost quintupled due to Ameriquest?s losses, from DM15.7 million to DM70.4 million. Computer 2000?s sales climbed 24 per cent to DM8.2 billion over the same period and the company claimed it has completed a turnaround.
Ameriquest reported a modest $95,000 profit in its quarter to 31 December but the small print shows income from interest and the sale of Asian businesses were worth $275,000 to the distributor, leaving a net loss of $180,000.
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