Conduit achieves net profitability

Conduit plc, the directory assistance operator, has announced that it made a profit after tax in Q4 ahead of expectations.

Although the company made a net loss €7.4m for the year ended 31st March compared to €5.6m in 2001, its Q4 results reveal that it has returned to profitability. Conduit made a profit after tax of €68,289 for Q4, compared to a €1.1m loss the previous quarter and €2.8m for the same quarter last year.

The net loss represents a loss of 43 cents per share. Revenue for the year is up by 72% to €52.3m from €30.4 in 2001. However, operating expenses are up 56% to €24.8m from €15.9m.

Commenting on the results, the company's CEO, Liam Young, said: "Conduit has now proven that its business model is soundly-based and can deliver high growth and net profitability".

The company recently announced that it was set to increase its market share in the UK, following its provisional allocation of the "118899" access code for directory assistance. Currently, Conduit handles more than 50% of all UK mobile-originating directory assistance calls.

Conduit plc specialises in the telecommunications industry, providing directory services. The company, quoted on the Neuer Markt in Frankfurt, has its headquarters in Dublin and call centres in the UK, Austria and Switzerland.

The company currently employs 1,408 employees, including employees at Conduit Software, a specialist software development subsidiary. The company's share price was up 1.5% yesterday at €2.02.