Netstore steadies the ship

Netstore steadies the ship

VAR issues upbeat outlook after enduring ‘disappointing’ start to the year

Security and managed services VAR Netstore has revealed trading for the six months to 31 December has been in line with expectations.

The Microsoft partner, which was forced to issue a profit warning in August following a ‘disappointing’ start to the year, issued a positive trading update today as it held its Annual General Meeting.

Graham Kingsmill, who was appointed as Netstore chief executive in July, said: “We have made steady progress in a short period of time and I look forward to seeing continued return from our improvement initiatives that will allow us to harvest our strong new business pipeline which spans across the whole business.

“We are confident about our forward outlook.”

Kingsmill recently admitted acquisitions had prevented Netstore from functioning as a ‘joined-up business’. The reseller said it is continuing to streamline its business by creating a unified sales force, a pre-sales team and a new project management function.

Netstore also used the AGM to highlight its successful £7m placing in November. This will enable it to add 550 square metres of data centre space in Reading.