Level 2

Phoenix IT still on track for FY

Date: Monday 01 Feb 2010

Phoenix IT still on track for FY

Phoenix IT said it remains confident of achieving results in line with market expectations for the year to March 2010 before absorbing some start-up costs for contracts and its Office Shadow acquisition.

The IT services firm said it remains encouraged by the level of opportunities across its markets.

The group order book increased 21.5% to £291.1m at 31 December. Operating margins have remained steady, the group said.

Cash flow remains strong with net debt, including finance leases, at 31 December 2009 of £72.1m, down by £5.9m from 30 September 2009.


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PNX - Phoenix IT Group

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