The Channel logo

News

By | John Oates 27th November 2006 10:35

Phoenix IT results show contract pain

Holding up

Phoenix IT Group managed to hold up revenues and profits despite contract changes at its biggest customer.

For the six months ended 30 September revenues were down to £54.4m from £54.8m for the same period last year.

Profit before tax was £9.2m compared to £8.9m for the same six months of 2005.

There are some delays in contracts at Phoenix IT Services but good growth in disaster recovery division NDR (Network Disaster Recovery). NDR made revenues of £9.2m, up from £7.3m, and signed its largest ever contract at £700,000.

Results were hit by changes to Phoenix's largest contract, desktop support for a government department, which meant reductions in the scope of work as well as more pressure on price.

The takeover of Servo Computer Services, announced earlier this month, will help Phoenix better target small and medium businesses.

Read the whole release here. ®

alert Send corrections

Opinion

Alexandre Mesguich

Change is order of day as tech giants shift strategy gears
Partnership

Frank Jennings

Confused? No problem, we have 5, no 6, no 7... lots of standards

Chris Mellor

VC sequence could end not with a bang, but a whimper
Sad man stares glumly over boxed contents of desk. Image via shutterstock (Baranq)

Features

money trap conceptual illustration
Big boys snare the unwary with too-good-to-be-true deals
Angus Highland cow
Pet carriers not wanted for whitebox stampede
FBcoldstoragearray
Sorry OpenStack and Open Compute, we're not all Facebook
Gary Kovacs, CEO of AVG. Pic: World Economic Forum
Scammy download sites? Government snooping? Run of the mill for Gary Kovacs