By Justin Madubuko, 29 August 2001 10:10
NEWS Early trading in computer services group CMG saw its shares jump 10.5 per cent after the company reported better than expected first half results. In April, CMG had warned it expected losses from its wireless data solutions division to be in the region of £30m for the first half of fiscal 2001, but today reported a £22m loss on the back of strong sales. The company's shares opened up eight per cent in pre-market trading at 232p. They had closed on Tuesday at 213.5p. Group sales rose 31 per cent, after acquisitions, to £456.7m. However, the company said it will cut six per cent of its German workforce. This will see annual savings of E3.8m (£2.4m) and a one-off charge of E3.4m (£2.1m). AS of 10:10(BST), CMG shares were up 14.99 per cent to 245.50p.
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