Conduit half year results show revenues up 90%

Conduit published its results for Quarter 2 and the six month period from April 1, 2001 to September 30, 2001.

Revenues were up 90% to €23.9m from €12.6m in H1 last year and an increase of 21% from Q1 to Q2.

The company showed a net loss, in line with analysts' expectations of €6.4m, which was up from the same half year in 2000.

However, quarter on quarter the net loss improved from €3.9m in Q1 to€2.5m in Q2.

The company's gross profits percentage was much improved from 19% in Q1 to 28% in Q2.

The business is expanding and call volumes were up by 92% to 38 million calls compared to H1 last year *19.8 million. At the end of the half year the companies employees numbers totalled 1,417, up from 979 this time last year.

The company's Information Services Division is now operating in Ireland, the UK, Austria and Switzerland.

This division has seen huge growth during the half year and is now focusing on cost control and improved efficiency.

Conduit's other division, Conduit Software is experiencing lengthening sales cycles, which is making it difficult to meet its sales targets for the financial year.

However, the company says that it does not expect that this will impact on the Group's ability to turn EBITDA profitable in the coming quarters.