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The following content is from an older version of this website, and may not display correctly.Data center operating and colocation firm Telecity Group reported full year revenue up over one third at £133 million, from £97 million in 2007 and earnings before tax more than doubling to £40.4 million from £19.3 million the year before.
Profit after tax reached £25.3 million compared with a loss of £7 million in 2007.
Michael Tobin, TelecityGroup CEO, said: "Increasingly the most important measure of capacity in our industry is the availability of power for our customers, rather than just space. Our fully funded, demand-driven programme of expansion, which started in 2008, will allow us to lift our power capacity available for customer use from 33MW at the beginning of that year to some 60MW in 2011. The nature of TelecityGroup's business is such that we have a high degree of visibility of our revenues going forward, so we start 2009 with confidence in our continued growth. I am also pleased to announce today that we will invest Ôé¼6m to deliver additional power in Frankfurt during 2009 in order to satisfy significantly increased customer demand in this important market. All of these investments are funded from our cash flows and existing borrowing facilities.
"During 2008 the Group has achieved strong growth in revenues, operating profit and earnings per share. Demand for our premium data centre capacity remains robust and we continue to win business from leading international companies. We have recently signed new contracts with companies including: NTT, TV1 and Xchanging. 2009 will be another key year for TelecityGroup. A programme of carefully targeted expansion, tailored to meet local demands in our key city markets and maintain our position at the heart of the digital economy in Europe, is underway."
Telecity is working on the second phases of data centre builds in London and Amsterdam and, as previously announced, are undertaking focused capacity expansion with planned new openings in Paris, Stockholm and Milan.
Profit after tax reached £25.3 million compared with a loss of £7 million in 2007.
Michael Tobin, TelecityGroup CEO, said: "Increasingly the most important measure of capacity in our industry is the availability of power for our customers, rather than just space. Our fully funded, demand-driven programme of expansion, which started in 2008, will allow us to lift our power capacity available for customer use from 33MW at the beginning of that year to some 60MW in 2011. The nature of TelecityGroup's business is such that we have a high degree of visibility of our revenues going forward, so we start 2009 with confidence in our continued growth. I am also pleased to announce today that we will invest Ôé¼6m to deliver additional power in Frankfurt during 2009 in order to satisfy significantly increased customer demand in this important market. All of these investments are funded from our cash flows and existing borrowing facilities.
"During 2008 the Group has achieved strong growth in revenues, operating profit and earnings per share. Demand for our premium data centre capacity remains robust and we continue to win business from leading international companies. We have recently signed new contracts with companies including: NTT, TV1 and Xchanging. 2009 will be another key year for TelecityGroup. A programme of carefully targeted expansion, tailored to meet local demands in our key city markets and maintain our position at the heart of the digital economy in Europe, is underway."
Telecity is working on the second phases of data centre builds in London and Amsterdam and, as previously announced, are undertaking focused capacity expansion with planned new openings in Paris, Stockholm and Milan.