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ICL TO FLOAT BEFORE THE END OF THE YEAR

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ICL, the IT software and services company, is to press ahead with its long-awaited stockmarket flotation despite po...
ICL, the IT software and services company, is to press ahead with its long-awaited stockmarket flotation despite poor results, reports Computing (p6).

The firm reported an operating loss of£70m last year, compared with an operating profit of£36m the previous year.

ICL blamed£35m restructuring costs, millennium bug preparations and investment in e-business development for the losses. Its pretax profit of£96.1m was due largely to the profits from disposals.
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