Phoenix IT Group plc said in its interim management statement relating to the period from 1 October 2009 up to 1 February 2010 said it remains confident of achieving results in line with consensus market expectations for the financial year to March 2010, before absorbing some start-up costs for the contracts and acquisition.
In the period the company secured significant contracts to provide outsourced services. During the first year of operation, it is expected that these outsourcing contracts will break-even and thereafter achieve low double-digit operating margins. As previously announced on 23 December 2009 the group acquired the UK business and selected assets of Office Shadow Limited, a provider of hosted/on-line Business Continuity planning tools.
Source:http://www.rttnews.com/ArticleView.aspx?Id=1195853&SMap=1
