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27th July 2005: Thus
THUS - Annual General Meeting
Trading Update
At its AGM today in Glasgow, THUS Group plc will
provide the following update on trading.
Since the start of the current
financial year, THUS has continued to grow across all three of its key
divisions of Managed solutions, Data and telecoms and Internet services. The
Company’s ability to sustain growth has been underpinned by its strength
in the delivery of converged services and by continued expansion in
broadband.
New corporate customers won since the beginning of the
current financial year include broadcasters EMAP Radio and SMG and support
services group Babcock International. These customers have opted for THUS
networking solutions backed by advanced Multi Protocol Label Switching (MPLS)
technology which enables voice, data and other applications to be carried
seamlessly over a single, integrated network platform. MPLS services have also
driven expanded business with existing customers, including Johnston Press, The
Funding Corporation and a large banking group.
Turnover to date from
carrier pre-select has been relatively stable following the fall in turnover
from this service in the second half of last financial year.
As
expected, the beneficial impact from new services growth on profit margins has
been diluted by the ongoing migration of customers from traditional, high
margin dial-up Internet access services to broadband and the new terms of last
year’s major contract renewals. Nonetheless, THUS maintains tight control
of operating costs, continues to focus on cash generative business, and trading
is currently in line with full year market expectations.
William Allan,
Chief Executive of THUS, commented:
“THUS has one of the UK’s
most advanced core networks and continues to respond vigorously to the
challenging competitive dynamics in the UK telecommunication market with a
focus on converged services. Converged services deliver cost and flexibility
advantages for business customers as well as growth and cash generation for
THUS. Our service innovation and capability continues to propel us forward and
gives the Board confidence in continued revenue growth and cash generation over
the current year.”
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