Reckitt & Coleman has become the latest company to claim the Millennium Bug ate into its profits.
The household products group saw pre-tax profits fall almost 8 per cent for the six months to July 4, down to #152.4m compared to #165.1m for the same period last year.
However, it claimed this was due to the impact of the strong pound, and expenditure of #16m on preparing its IT systems for the date bug.
Otherwise, profits would have risen 7 per cent, it claimed. The group expects to spend another #25m on solving the bug this year, and another #19m in 1999.
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