Parity Plc, the computer services group being put together by Phil Swinstead, has announced year-end figures ahead of prediction, the company says. The results, the first since its flotation last year, include first fruits from a flurry of acquisition activity in the second half of 1994. BIS Training, ACT Business Systems, Class Ltd and the consulting arm of Learmouth & Burchett Management Systems Plc contributed ú100,000m towards group pre-tax profits of ú4.2 and ú7m towards a group turnover of ú88.8m. The newly-acquired companies have been merged to form Parity Solutions which now comprises consultation, training and systems management. However, Parity’s main revenue stream comes from CSS Trident, which supplies contract computer consultants to UK blue chips. CSS Trident is likely to continue to dominate overall group business, says Paul Davise, group managing director, who forecasts group turnover to rise to ú125m in 1995, ú90m of which will come from its contract agency, ú30m from consultancy and systems and ú5m from training. While the majority of Parity’s business comes from home markets, the company is expanding its European sales offices in Benelux and Switzerland and plans to open local sales offices. These operations are not likely to make more than a 10% contribution to 1995 figures, says Davise. Davise says Parity is considering further acquisition activity in the next six months in niche markets rather than the strategic acquisitions of late.
