Torex shrugs off slowdown fears

HEALTHCARE computer group Torex will use its half-year results this week to dispel fears that its business is being hit by a slowdown in the IT sector.

The group, which provides computer systems to the NHS, will report a 40% leap in profits before tax for the six months to June 30. This is largely due to rising computer spending in the NHS.

The £10.5m half-year profits will keep the group on target to hit analysts' full-year profit forecasts for 2002 of almost £24m.

The company's shares have plunged 20% since the start of June.