Logicom Q1 2026 Profit Drops 55.2% Amid Market Weakness
Logicom Public Ltd reported a 55.2% decline in Q1 2026 profit to €10.7 million, down from €23.9 million in Q1 2025. This downturn is attributed to reduced sales and other income, particularly in the software solutions sector, which saw an 18.4% drop.
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In Q1 2026, Logicom's gross sales fell by 2% to €286.6 million from €292.4 million year-over-year. Group sales decreased by 14.6% to €199.9 million compared to €234 million in Q1 2025, driven by a 0.9% decline in the distribution sector and an 18.4% decline in software solutions.
The gross profit margin improved slightly to 11.3% from 9.7%. Administrative expenses decreased by 3.9% due to lower personnel costs. Cash and cash equivalents showed a debit balance of €418.8 million, down from €443.2 million at the end of 2025.
The company also highlighted its desalination activities through Verendrya Ventures Limited. The outlook aligns with the board's estimates, with no extraordinary income reported.
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