NewswireToday - /newswire/ -
London, United Kingdom, 2010/11/01 - Telecity Group plc ('TelecityGroup' or the 'Group'), Europe’s industry leading provider of premium network-independent data centres, issues the following Interim Management Statement (LSE: TCY).
• Trading has remained strong and TelecityGroup’s order pipeline is robust. Management is confident that the Group will deliver a full year 2010 performance in line with market expectations;
• The Group announces that it has secured a further 3MW of capacity in the key Docklands market in London;
• The Group also announces a new 3.5MW data centre in Manchester.
Current trading and outlook
TelecityGroup confirms its positive outlook for the full year. Due to a combination of the recurring revenue growth achieved to date in 2010 and the expansion in its operating margins, management is confident that the Group will deliver a 2010 full year performance that is in line with market expectations.
The Group’s financial position remains strong as its operations are highly cash generative. A combination of this cash generation and its 5-year, £220m debt facility, gives sufficient capital for its announced expansion across Europe.
TelecityGroup aims to achieve controlled, sustainable and value creating growth by increasing its capacity across Europe, in response to customer demand.
The Group announces that it has secured an additional 3MW of customer capacity at its key Harbour Exchange facility in the highly connected Docklands area of London, where its sites are currently full. This capacity will open in Q3 2011.
Further to the recent acquisition of IFL in Manchester, the Group announces a new 3.5MW data centre in that market. This facility is scheduled to open in Q3 2011 to fulfil the latent demand for capacity in the north of England, where the Group’s two existing sites are full.
Michael Tobin, CEO of TelecityGroup, commented: “I am very pleased with TelecityGroup’s trading to date in 2010 and I remain excited about future growth prospects. We are continuing to invest in growth, in response to customer demand, using long-term planning and our leading industry position to provide new capacity in the highly connected European internet hubs, protected as they are by high barriers to entry. The Group’s announced expansion programme is on track and this additional capacity will allow for strong organic growth in our core European markets into the medium-term.”
For further information please contact:
Investors: Matthew Springett, TelecityGroup / T: +44 (0)20 7005 6337
Brunswick: Sarah West / James Olley - T: +44 (0)20 7404 5959
About Telecity Group plc
TelecityGroup (telecity.com) is Europe’s industry leading provider of premium network-independent data centres offering a range of flexible, scalable data centre and managed services. TelecityGroup specialises in the design, build, and management of highly connected and secure environments in which customers can house their technical, web and internet infrastructure. Each of its data centres acts as a connectivity and content hub facilitating the storage, sharing and distribution of data, content and media. Headquartered in London, TelecityGroup operates 24 network-independent data centres across seven European countries. The data centres are located in prime positions for commerce and connectivity, including Amsterdam, Dublin, Frankfurt, London, Manchester, Milan, Paris and Stockholm.
TelecityGroup is listed on the London Stock Exchange (LSE: TCY)
Cautionary note regarding forward-looking statements
This announcement includes statements that are forward-looking in nature. The actual results, performance or achievements of the Group may be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements due to known and unknown risks, uncertainties and other factors. Except as required by the Listing Rules and applicable law, Telecity Group plc undertakes no obligation to update or change any forward-looking statements to reflect events occurring after the date such statements are published.