Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Phoenix IT Group PLC (PNX)

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Friday 31 July, 2009

Phoenix IT Group PLC

Interim Management Statement

RNS Number : 6123W
Phoenix IT Group PLC
30 July 2009


31 July 2009


Phoenix IT Group plc 

Interim Management Statement


Phoenix IT Group plc ('the Group'releases its Interim Management Statement relating to the period from 1 April 2009 up to the latest practicable date prior to the publication of this statement, 30 July 2009. Financial data is for the Group's first quarter (1 April 2009 to 30 June 2009), unless otherwise stated. 

The financial results for the Group for the first quarter are in line with the Board's expectations. 

Through a combination of the ongoing focus on the provision of higher margin services and continuing cost control, the margins in both the Partner and the Business Continuity divisions continued to improve in the quarter. However, excluding the effect of the sale of the Group's French business, on a like-for-like basis revenue for the first quarter of the financial year decreased by 5compared to the corresponding period last year reflecting the impact of the recession over the last 12 months. The decline was most marked in the Mid-market division, particularly in product sales and associated professional servicesOverall the Group achieved an operating profit for the period in line with the same period last year as a result of the higher Group operating margin.

In the preliminary results statement of 1 June 2009, it was explained that in today's challenging market there are fewer large scale multi-million pound, multi-year contract opportunities in the Partner business' market.  Opportunities and contracts in this business currently tend to be for projects of a smaller size.  As at 30 June 2009 this is evidenced in the Group order book at £268.5m, a decrease of 6.6% compared to 30 June 2008 and a decline of 6.4% from 31 March 2009, and in the annualised contract values which decreased by 2.2% compared to 30 June 2008, with a decline of 1.6% since 31 March 2009 to £177.0m.

The Group has continued to reduce net debt, even after a dividend payment of £1.7m in the first quarter. At 30 June 2009 net debt stood at £84.7m, a reduction of £3.7m from 31 March 2009, and the Board remains confident that net debt will continue to be reduced substantially during the remainder of the financial year.  

The recession continues to adversely impact the time new customers are taking to reach purchasing decisions and also increases pricing pressure in each of the markets the Group serves. However, there has been an increase in sales opportunities in each division during the quarter which, together with the Group's good forward visibility from its order book and high levels of recurring revenues from a highly diversified customer base, give the Board increasing confidence in the outlook for the current year and beyond.

Nick Robinson, Chief Executive of Phoenix IT Group plc, commented:

'We have had a solid start to the year and our performance is on track to meet the Board's expectations for the year. Activity levels are high and our pipeline continues to grow as a result of increasing opportunities over recent weeks.'


Phoenix IT

Peter Bertram - Executive Chairman

01604 769000

Nick Robinson - Chief Executive Officer

David Simpson - Chief Financial Officer

Financial Dynamics 

Charlie Palmer

020 7831 3113

Nicola Biles 

This information is provided by RNS
The company news service from the London Stock Exchange

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