Computer services group Fayrewood, founded by Irishman Pierce Casey, has reported pre-tax profits of £2.8m sterling for the six months to the end of October, down from £11m in the same period last year.
The drop was mainly due to an exceptional gain last year. Operating profits were up 60% to £4.1m on 47% higher turnover of £112.7m.
Fayrewood has a stake in IT marketing company ComputerLinks, which is listed on the Neuer Markt, having sold French company Alpha Media to it last year for a profit of more than £17m in a cash and shares deal.
It also involved in the distribution of niche computer products and has also established E-Link Capital, an investment company which targets minority stakes in technology companies.
