SCH continues to buck the trend - results for 12 months ended 31 March 2002

Birmingham, UK - 3 October 2002 - SCH (Specialist Computer Holdings) Plc, Europe's largest privately owned technology group, which specialises in providing services, solutions and products for networked computing, has announced its results for the 12 months ended 31 March 2002 for its UK and international businesses.

Birmingham, UK - 3 October 2002 - SCH (Specialist Computer Holdings) Plc, Europe's largest privately owned technology group, which specialises in providing services, solutions and products for networked computing, has announced its results for the 12 months ended 31 March 2002 for its UK and international businesses.

Highlights
·   Combined turnover of SCH and SCI (Specialist Computers International Limited) increased by 7.5 percent year-on-year to 1.5bn (Euros 2.5bn). The combined profit before tax and exceptional items increased 18 percent year-on-year to 34m (Euros 54.8m).
·   Turnover split:
   UK 872.5m (Euros 1.4bn) accounting for 56 percent of turnover.
   Continental Europe 672.9m (Euros 1.1bn) accounting for 44 percent of turnover.
·   May 2001 acquisition, Compelsource, has been successfully integrated into the UK business.
·   Continued expansion - four strategic acquisitions announced since year-end 31 March 2002 comprising three businesses in France and one in the UK.

Commenting on the results, Chairman and Chief Executive Sir Peter Rigby said: "We are delighted to report both an increase in turnover and a substantial increase in profit before exceptional items and tax against the background of the most difficult market conditions that the industry has experienced in Europe in recent times.

"In a very busy year, SCH grew its UK and international businesses massively against the market trend and profit downturn from competitors. Although our seven principal European markets are all experiencing severe downturns in overall business volumes with subsequent pressure on margins, we have returned our best results ever.

"These results have been achieved by combining our excellent track record for customer retention and development with strong business wins and a great management team. We continue to invest in key areas and make operational cost improvements, ensuring that our businesses not only survive, but thrive even in these tough market conditions. We do not see any likelihood of these trading conditions improving in the short term. Our UK and French systems integration businesses, SCC and Allium, have performed particularly well in this difficult environment.

"Our customers benefit from a truly pan-European service operation across more than 50 key sites and we are introducing the benefits of the hybrid model into France and Holland. We have an aggressive European acquisition strategy to ensure we continue to drive technology for business advantage across the enterprise space," Sir Peter added.

Interim update
"In the past six months of the current financial year, we have further strengthened our position in France and the UK with four strategic acquisitions. In May, we acquired Metrologie, one of France's leading distribution businesses. It has been combined with ETC France and, trading as ETC Metrologie, is now one of France's largest PC technology distributors.

"A second business, now trading as Best'Ware, distributes high-end enterprise computing systems. Our third French acquisition this year, which we acquired in September, was EBC Informatique, the largest independent PC systems integrator in eastern France. It will be integrated with and complement Allium, France's number one systems integration business.

"In June 2002, SCC in the UK acquired the infrastructure services business of Acuma Solutions Limited, providing significant enhanced resources in the enterprise solutions and Unix systems markets. This has positioned SCC as one of the UK's largest enterprise systems integrators.

"The SCH and SCI businesses expect to record a strong current fiscal year. We will continue to grow both by developing our existing businesses and through pursuing a proactive pan-European acquisition strategy.

"The results confirm our position as the largest privately owned technology business in Europe. The group will continue to deliver quality vendor independent product logistics and desktop-related services to major European corporate and government organisations," Sir Peter concluded.

NOTES FOR EDITORS

SCH (Specialist Computer Holdings) is Europe's largest privately owned technology group and a market leader in providing managed IT lifecycle services and solutions for business advantage.

The group works with major European enterprise and government organisations to add value at every stage of IT infrastructure investment.

The group employs over 5000 skilled people who directly manage IT services, solutions and products in full ownership across a pan European network of 50 offices in seven countries and into over 60 countries worldwide

The group trades under a number of leading brands. Service Partner/Reseller brands are SCC in the UK, Allium in France and Italy, Info'Products in Holland, Spain, Belgium and Germany. Distribution brand is ETC.

SCH is the UK's fourth largest private company.

ends

For further information, please contact:

Christopher Lewis at SCH on +44 121 766 2573 or at christopher_lewis@scc.co.uk
Brian Dolby at GBCS PR on +44 115 9508399 or at brian@gbcspr.com

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