Conduit Q2 revenues up 88%
Thursday, 15 November 2001Telephone directory services firm Conduit said its second quarter revenues rose by 88% from a year ago to 13.07 million euros.
The company said it had halved the loss on its second quarter earnings before interest, tax, depreciation and amortisation (EBITDA) to 1.48 million euros from 3.5 million in the previous quarter.
In a statement, the company said its Irish operations were EBITDA positive in the second quarter, and its British operations turned positive during the quarter.
Conduit, which provides directory assistance services in Ireland, the UK, Austria and Switzerland, said it remained on target to be EBITDA profitable for the rest of the year.
In its results statement, Conduit said its call volumes were up 92% to 38 million calls compared to 19.8 million the same time last year.
Liam Young, Conduit's Chief Executive Officer, said the company's achievements during the quarter were significant, considering the impact of current market conditions on its software business. He added that the group is on target to be EBITDA profitable for the remaining six months of the financial year.
He said the decision of Britain's OFTEL to deregulate the market there provides Conduit with its largest market opportunity to date. 'We are in pole position to take advantage of this opportunity,' he said.
Conduit's share price was up 30 cents to 5.80 euros by the close of business on the ISEQ today.
