Conduit moves into profit in Q3
Friday, 8 February 2002Third quarter revenues at directory services firm Conduit surged by 79% to €37.4m in the third quarter to the end of December.
It also moved into profit on an EBITDA (earnings before interest, tax, depreciation and amortisation) basis, recording profits of €0.3m, compared with a €1.5m loss in the previous quarter. Net loss fell from €2.5m in Q2 to €1.1m, while gross margins rose from 28.3% in Q2 to 33.2%.
Chief executive Liam Young said he expected further improvement in EBITDA in the coming quarter.
Call volumes at Conduit, which operates in Ireland, Britain, Austria and Switzerland, were up 90% to €59.6m.
Conduit has also announced the acquisition of the remaining 45% of its UK subsidiary 118 Limited for €4m from Sonera Media Holdings. Liam Young said 118 was of considerable importance because of the deregulation of the UK directory market.
The company says it hopes to launch new services in the UK some time in the Autumn.
