PSI feels signs for market upturn

  • Pre-tax earnings and operating profit positive in first quarter

  • Cash increased by 5 million euros 17.9 million euros

  • Measures for increasing earning have positive impact




The PSI Group has achieved the turn-around in earning that had been announced for the first quarter of 2002. The operating profit, which had dropped to -2.9 million euros in the fourth quarter of 2001 as a result of the economic slump, was positive as was the pre-tax earnings. The cash position improved by 5 million euros to 17.9 million euros compared to 31 December 2001. The organizational and personnel measures introduced in the fourth quarter have already demonstrated a positive effect in the quarter just ended. PSI predicts that the IT market will recover in the second half of the year which will then have an additional positive impact on the group profits. This expectation is also supported by the noticeable increase in demand for PSI solutions.


PSI will publish its 1st quarter report, as planned, on 21 May.