Phoenix sees enterprise demand pick up

Order book increase means IT hosting firm sees better long-term outlook

Phoenix IT sees better long-term economic outlook

UK disaster recovery and IT hosting firm Phoenix IT has seen a 23 per cent increase in its order book to £353m, helped by several acquisitions in the second half of last year, according to its full-year results released today.

The company acquired network service provider KCOM’s network maintenance services business, and hosted software firm Office Shadow to expand its service offering and broaden its customer base.

Company revenue was down 2.9 per cent at £246m, with profit before tax up 4.2 per cent to £29.5m.

Phoenix chief executive Nick Robinson said: "The company has had a successful financial year despite a tough trading environment with growth in pre-tax profits and a stable operating margin performance.”

Phoenix's Partner Services division secured its largest services contract win to date, obtaining a five-year outsourcing agreement to provide a range of end user services to Torex Retail Holdings Ltd.

Phoenix also said that it would start seeing growth in cloud computing services soon. “The Group is well positioned to deliver this type of IT-related capability through its three operating divisions,” said Phoenix.