Nick Jefferies, the newly appointed group chief executive of Acal plc is to lead a strategic review of the company's businesses.
The announcement came as Acal warned its results for the year ending March 31 will be below market expectations. The company pointed to the tough market conditions. Sales were ahead in the quarter to December 31, but margins in the electronics division have been hit by the weakness in sterling.
A new management team has been inserted at the IT parts division. They have two tasks. One isto integrate Service Source Europe which Acal acquired earlier this month. They also have to resolve what the company describes as ongoing contract operating losses.
Late last year Acal sold its MessageLabs Group business to Symantec for £16.2m. This deal means the company retains significant net cash despite the increasing pressures on working capital.
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