New analysis shows Danish IT industry is maturing and growing  

2006.06.28
An IT analysis of the annual accounts of Denmark's 200 largest IT and telecompanies shows the industry has matured and is growing

An IT analysis of the annual accounts of Denmark's 200 largest IT and telecompanies shows the industry has matured and is growing. Financial daily newspaper Børsen's annual IT Top 200 reveals that 182 of the 200 companies, excluding telecom giant TDC, improved their total revenues by DKK 12 bn (USD 2 bn) to DKK 110 bn (USD 18.7 bn) in 2005, and profits rose from DKK 2.6 (USD 442 m) to DKK 3.2 bn (USD 544 m). The IT industry also generated exports of DKK 40 bn (USD 6.8 bn) in 2005.

Søren Strøm, partner at Ernst & Young comments: "The analysis shows that it is the healthy traditional business virtues which are at the centre again. We see a matured IT industry, which is bottom-line driven, and where the focus is on managed growth and core competencies."

Growth in the top ten of the IT companies analysed averaged 43%. "Growth is driven by an upswing in the market and a positive atmosphere in the corporate sector. Financial resources are being released for necessary investments, which perhaps were on hold previously," says Søren Strøm. The news was reported by financial daily newspaper Børsen.

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