France-based Econocom Group has reported
consolidated revenue of €750m, compared with €361m the previous
year, despite the 2% drop in sales.
In a preliminary half-year results statement,
the European IT and telecom funder also said it saw a sharp rise in
its operating profits and attributed the rise to the integration of
IT leasing and asset management company ECS Group.
Econocom acquired ECS in October last year
from Société Générale. Since the acquisition, it has focused on the
integration of the sales, technical and administrative teams of ECS
Group into Econocom. It has also identified potential synergies,
which are expected to have a “positive impact” of around €15m
in 2011.
Econocom said that given the good business
trends and positive results of the ECS integration, it is confident
of meeting is annual revenue target of €1.4bn and recurring profit
of €56m.
Its half-year results will be published on 31
August 2011.
