Compel Group PLC
07 November 2006
7 November 2006
COMPEL GROUP PLC
At the AGM of Compel Group PLC to be held at noon today, Ron Clark, Chairman,
will tell Shareholders:
'Compel's performance in our financial year to date has been in line with our
'Generally, market conditions in the sectors of the IT industry that we address
remain positive. Organisations continue to invest particularly in areas of IT
that are strategically important to them, and solutions encompassing software
and technology from global market leaders, such as Oracle, are taking an
increasing share of expenditure. Given our strategic focus, these key trends are
beneficial to Compel.
'We continue to win new projects and drive managed services, with both existing
and new customers. Our 'flagship win' this year has been the £5 million
consultancy contract to provide the upgrade and reengineering of an existing
Oracle/ PeopleSoft implementation in a major government department; this
contract commenced in September and its duration will be approximately 18
'Our trading is normally weighted towards the second half of our financial year
mainly due to the seasonal impact of the Summer and Christmas holiday periods on
our consulting and rental activities; this will be the case this year.
'Trading to date is ahead of the comparable period last year and we remain
positive about our prospects.'
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For further information please contact:
Compel Group PLC 01438 791461
Neville Davis, Chief Executive
Weber Shandwick Square Mile 020 7067 0700
Notes to editors:
Compel Group PLC is a leading provider of IT Solutions, comprising two
divisions, Enterprise Solutions and Short Term Rental Solutions.
Enterprise Solutions provides large scale, complex and sophisticated IT
solutions, including consulting, design, supply, implementation and
comprehensive long term support. It has two key areas of focus, Business
Solutions and Technology Solutions. Business Solutions predominantly provides
tailored solutions based around the full range of Oracle software, for which it
is the number one partner in the UK. Technology Solutions provides consultancy
led services rich, intelligent migration, data management and infrastructure
solutions, encompassing products from the world's leading software and
Short Term Rental Solutions (branded Hamilton Rentals) is by a substantial
measure the largest and best known IT rental business in the UK, providing the
widest and most comprehensive range of products in the industry, available to
rent from 1 day to 2 years.
Clients include Accenture, Arriva, AstraZeneca, BT, Cable & Wireless, Cap
Gemini, Cisco, IBM, ITV, HP, Ministry of Defence, O2, River Island, Royal Bank
of Scotland, Sony, Sun, Vodafone, and Yell.
Compel was established in 1987. Floated on the Official List in 1994, Compel's
Ordinary Shares have been traded on AIM, a market operated by the London Stock
Exchange, since 1 November 2006.
This information is provided by RNS
The company news service from the London Stock Exchange