The Channel logo

News

By | Kelly Fiveash 7th April 2009 09:56

Phoenix predicts hitting end of year mark

Walk the line

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. ®

comment icon Read 2 comments on this article alert Send corrections

Opinion

Lightning

Jack Clark

Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
Microsoft CEO Satya Nadella
ARA_LIbertad

Chris Mellor

Elliott Management sinks its teeth into retiring godhead

Features

Sinofsky's hybrid strategy looks dafter than ever
Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club
SAP Match Insights
Vorsprung durch grossendatatechnik, as we like to say in Germany