Phoenix warns of soft market


Phoenix warns of soft market

Alex Scroxton

Phoenix IT has issued a trading statement for the period between 1 April and 13 August, revealing that although financial results have so far fallen in line with the board's expectations, the firm's Business Continuity and Servo divisions have been "tempered by softening in the market for partner services".

In spite of the worsening conditions, Phoenix insisted its forward visibility remained good, and it was well-positioned for growth over the remainder of its fiscal year.

The IT services firm did not disclose concrete results, but did reveal that on a pro-forma basis, the acquisition of disaster recovery group ICM boosted its sales by 13%. The unit is expected to be fully integrated by this autumn.

Reflecting a common trend in the market right now, Phoenix also reported its order book and annualised contract values were up by 6% and 8% respectively.

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