BSG bucks the trend

(By Anthony Miller) Vin Murria appears to be continuing to work her magic (and see OoH…Vin is back!) at Business Systems Group, where she took over as non-exec chairman in Feb. ’08. Their interim results to 30th Sep. (see here) show both revenues and profits up in all three divisions (hardware, managed services, solutions). In particular, managed services, some 30% of the £18m first-half revenues, now accounts for 45% of gross profit and 40% of OP, an operating margin of 16%. The 12% gross margin and 6% operating margin on hardware are pretty impressive too. Times may indeed be tough, but even tiny players can weather the storm with a great management team.