Reorganisation costs set to hit Phoenix

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Reorganisation costs set to hit Phoenix

Simon Quicke

The decision by Phoenix to re-organise into a single integrated structure back in April has taken its toll on the bottom line.

The IT services player issued an interim management statement revealing that the move to an integrated structure focused around five business units - systems integrators, communications, hosting, managed services and business continuity - had some consequences for the first half financials.

"The transition to a new organisational structure from 1 April 2012 has caused some short-term disruption with a consequential impact on the Group's financial results during the first quarter," the firm stated in an interim management statement.

But there was also a comment about the improved pipeline that had resulted from the integrated structure.

"The group order book and annual contract values at 30 June 2012 were £293million (March 2012 : £315 million) and £192million (March 2012 : £199 million) respectively," it added.


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