Estimated reading time: 1 minute, 7 seconds

COLUMBUS U.S REVS OFF DOUBLE DIGITS Featured

 Thomas Honoré, ColumbusConsulting and reselling firm Columbus says it is "executing a recovery plan" for its operations in the United States. That follows a 21.3-percent decline of sales here, reported in the company's financial results for the third quarter ended September 30. Columbus, based in Copenhagen, Denmark, described the efforts in this country as involving a "reorganization of their senior management structure, and a strengthening of the sales management and the sales team."

Revenue for nine months in this country fell to about $18.5 million and dropped in every category. The big hit came in consulting income, which fell to roughly $11.6 million, off 23.3 percent. However, the company improved its earnings with before tax operating profit from continuing operations of about $5.1 million for the nine months, an increase of 127-percent over last year's corresponding period. With sales also off in Norway, revenue dropped by 1.4 percent to roughly $105.8 million. The biggest part of revenue comes from consulting services, with revenue there up 7 percent, despite the U.S. performance. Columbus continued its shift away from relying on third-party software, primarily the Microsoft Dynamics applications, to selling its software for retail, manufacturing and food companies. Together they accounted for 79 percent of total revenue, with manufacturing still the largest part. The strategy is part of what the company terms Columbus 15, which was declared successful by chairman Ib Kanøe and CEO Thomas Honoré.

Read 1740 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.