Kalamazoo has become the latest reseller in the UK to feel the bite of the slow upturn following the year 2000 lockdown.
The reseller announced this week that its profit for the year ended 30 March will show a significant improvement, but will still be below market estimates because of weak demand since January.
The announcement follows Compel's warning that its profit will fall short of expectations as a result of a "lower-than-anticipated upturn" (CRN, 24 May). It caused Compel's stock to crash and led to a takeover bid by Computacenter.
Kalamazoo had been expected to post profit of about £1m. It reported pre-tax profit of £750,000 in the first half of the year, compared with a loss of £550,000 for the first six months of 1998. The reseller said it had expected to post a strong performance in the second six months, but completed year 2000 projects and a lack of investment by car dealers had affected profit.The reseller will announce its full-year results on 29 June.
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