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Electronic Data Processing pre-tax profits fall

By BFN News | 04:28 PM | Friday 28 May, 2010

IT solution provider Electronic Data Processing's interim pre-tax profits fell to £227,000 in the six months to the end of March - down from £340,000 last time. Revenues fell to £2.8m from £3.1m and gross profits fell to £2.6m from £2.9m. Adjusted operating profit, before non-cash IFRS charges, was £330,000 (2009: £304,000) representing an operating margin of 11.9% (2009: 9.7%). It said the increase in underlying operating profit, despite lower turnover during the period, was a direct result of the cost-saving measures which were successfully implemented throughout the business last year. The firm said there had been some signs of improvement in its markets recently but it expects customers to remain cautious in their attitude towards the recovery for some time yet. Story provided by Business Financial Newswire

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