“The turnaround will take a longer time than we initially expected,” CEO Thomas Honoré, said in a recent earnings webcast. Columbus executives did not provide much detail, other than noting “reduction the organization” to cut cost. Overall, however, the Denmark based software and reselling company had a good first six months for 2018. After tax profit of roughly $8 million for the most recently ended half represented a rise of 22 percent. First half-revenue of approximately $152.3 million was 52.3-percent higher than in last year’s first half. The primary force of the change was last year’s acquisition of iStone. While iStone is concentrated in Sweden, it is an M3 (Lawson) dealer and Columbus intends to expand that product line globally.
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COLUMBUS U.S BIZ OFF 22 PERCENT Featured
Revenue for Columbus in the United States was down by 22 percent for the first half ended June 31; 13 percent in American currency. Revenue for the most recently ended period was about $28.5 million with the decline continuing weakness in this country, Columbus reported last week.
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