By Ron Coates, 1 December 2000 18:31
NEWS The 27 year old company sold its British enterprise resource planning division to K3 Business Technology, the UK subsidiary of a Scandinavian consortium for £100,000 and liabilities of £1.2m. For the first half of this financial year, UK ERP contributed £500,000 in profit to Kewill. "The UK ERP products no longer fit in to our strategy of focusing on web-based B2B ecommerce supply chain management solutions," said Geoffrey Finaly, CEO of Kewill. Those four main product lines were aimed at small to medium-sized companies. Kewill employs over 700 people worldwide and has more than 55,000 customers. It is one of the few UK software houses to have established itself in the US without significant problems. Last month it reported that core sales (excluding operations it was in the process of selling off) were up 35 per cent to £27m with gross profits of £4.4m. Kewill is another company which has almost recovered from the share bloodbath following Sema's profit warning last Friday. Its shares stood at 406p this afternoon, as opposed to 438p last Friday and a low of 376p yesterday.
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