Phoenix changes focus after profit drop
Revenues and profits are down at Northampton-based Phoenix IT Group, it was revealed this morning.
Turnover slipped to £132.3m for the six months to 30 September, down from £138.4m in the previous year.
Profit before tax also fell £1.2m, down to £12.1m.
Phoenix IT said it would now focus on growing its hosting and cloud services operations to extend its market share.
David Courtley, chief executive, said: "The group has delivered a satisfactory set of results, in line with the board's expectations, against a background of challenging economic conditions. This has been achieved through sustaining gross margins and tightly controlling costs.
"Operationally we will remain focused on improving service to our customers, increasing our share of target markets and growing our base in hosting and cloud services."
