Phoenix IT Group confirmed today that trading, cash generation and non-recurring costs for the year ended 31 March 2009 have been in line with expectations.

The company said it is saddled with net debt of £72.4m compared to bank facilities of £109m, and finance lease liabilities were about £16m.

Non-recurring costs relating to job cuts as well as the disposal of ICM Solutions and the French arm of its biz would be about £8m, said Phoenix.

The British IT services firm is expected to report pre-tax profit of £27.5m for its 2008/2009 fiscal year, according to analysts.

Phoenix will announce its full year results on 1 June. ®

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• Steady as she goes at Phoenix (28 September 2009)
• Phoenix warns of 5% rev fall in Q1 (31 July 2009)
• Phoenix glides serenely over recessionary ashes (1 June 2009)
• Phoenix remains on song despite flat Q3 sales (27 January 2009)
• Phoenix IT sucks up the recession (24 November 2008)
• Phoenix IT revs up in Q1 (14 August 2008)