Telecity cuts losses in 2007

Sales up 42 per cent on the previous year at data centre specialist

Canary Wharf is one of three Telecity datacentre locations in London

European data centre hosting provider Telecity Group reported full-year revenue of £97.9m for 2007, with increased demand for hosted services pushing sales up 42 per cent from £68.9m in 2006.

The company posted an overall loss of £7.8m, less than the £15.8m loss it reported for the previous year, with loss per share narrowing from 10.23p to 4.67p.

Telecity owns data centres in London, Manchester, Dublin, Paris, Milan, Amsterdam, Frankfurt and Stockholm, having acquired two data centres from rival hosting company Globix UK for £31m in 2006.

The firm offers a variety of services to UK customers, including co-location, infrastructure hosting and managed web/application servers.