The Channel logo
The Channel uses cookies. Find out more.

News

By | Kelly Fiveash 7th April 2009 09:56

Phoenix predicts hitting end of year mark

Walk the line

Sponsored: Creating the Storage Advantage

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. ®

Sponsored: Creating the Storage Advantage

comment icon Read 2 comments on this article alert Send corrections

Opinion

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)

Chris Mellor

All that is storage does not beget gold
Lost

Features

Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini
You see a diversity tickbox nightmare, I see human beings
hands waving dollar bills in the air
AWS and Salesforce match up to Ellison's hardware