Telecity on form so far
Data centre firm Telecity Group has confirmed its full year outlook after a good first quarter.
Data centre firm Telecity Group has confirmed its full year outlook after a good first quarter.
The company said it had delivered a good performance in the first three months of 2012 in terms of growth in revenue and earnings per share.
It said this had come despite the relative weakness of the euro and Swedish Krona, which together account for over half of the group's revenues.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Telecity said that during the period new capacity had been brought on-line across the group, adding 7MW of customer power and taking total available customer power up by over 10% since the year end to 75MW.
The company also reaffirmed that it was set to pay its inaugural dividend after its first half results.
Initially, it intends to pay out a ratio of around one-fifth of adjusted EPS and it will seek to grow annual dividends at least in line with earnings.
On that basis, had Telecity been paying dividends on its 2011 figures it would have paid out around 4.8p.
Chief Executive Michael Tobin said he was delighted with Telecity's performance to date in 2012.
"In particular, it is exciting to see new capacity coming on-line in prime locations which will enrich the group's position at the heart of the European digital economy and greatly enhance the Group in terms of scale and profitability," he said.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
8 of the best properties for sale near ski slopes
The best properties for sale near ski slopes – from a luxury cabin in Geilo, one of Norway’s premier ski resorts, to a large chalet in Valais, Switzerland
By Natasha Langan Published
-
Cash hoarders take total UK savings to £2 trillion – why aren’t we investing?
Investment-shy Brits are hoarding huge amounts of cash in their savings accounts. We look at the case for saving versus investing.
By Katie Williams Published