Flamingo Computers revenues up 10%

IT equipment dealer Flamingo Computers ended H1 with $29 million turnover, up 10% compared to the January 1 – June 30, 2002 period. The revenues were derived mainly from distribution (70%), with the retail operations accounting for 30%. Thirty percent is also the contribution of Flamingo’s seven distribution branches abroad to the total distribution-related revenues. Flamingo hopes to attain $72 million turnover by yearend, after having made $63.7 million in 2002. The turnover growth is nothing spectacular, but the first half also meant 40% more systems (PCs) sold for Flamingo. The management hopes to sell 25,000 systems by the end of the year. This surge can be explained by the strategy to sell computers in instalments for individuals and in leasing for legal entities. The broadening product range (i.e. the launch of the Coral series in September 2002 followed by the Point series early in 2003) also had a contribution. The management of Flamingo is pleased with the six-month results derived from the small and medium-sized enterprises segment. The company has also been applying an aggressive retail strategy over the last six months, during which it opened seven new stores. Flamingo’s retail chain comprises 38 stores, set to reach 45 by the end of the year. ZF