Feeds

Energis earnings up, losses up

And CEO Grabiner off to find life

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Energis, the UK business telecoms company, has announced an increased pre-tax loss for the year of £100.6 million but a 50 per cent increase in earnings, 70 per cent increase in turnover and a step up in operating profit from £9.1 million last year to £47.0 million.

Despite sure signs that Energis is fit and healthy - and may even make a profit at some time in the future - the share price has barely shifted, tripping up 2p to 268p this morning.

This may have something to do with the departure of chief executive Mike Grabiner after 5 years. Grabiner is a talented man but said he was leaving without a job because he wants to get a life. "I have no job to go to and no idea what I'll end up doing. I just know I'm 50 and I want to do something entirely different while I'm young and energetic enough to do it," he said.

He will be replaced by the current COO David Wickham, who joined Energis in December 1999.

Interestingly, Grabiner has said he wouldn't want the job of CEO of BT - currently held by much-maligned knight Peter Bonfield. Grabiner would be a good choice as replacement as he worked at the telecoms giant for four years in several senior positions. Obviously the reported £5.5 million that Sir Pete may get before leaving the company he screwed up doesn't entice him. Mike won't go without though, so don't worry.

Enough of this though. Energis' results are as follows (all comparisons are year-on-year):

  • Total turnover up 70 per cent to £840.4 million
  • UK turnover grew 54 per cent to £683.7 million
  • Continental turnover up 218 per cent to £156.7 million
  • Earnings before interest, tax etc up 53 per cent to £141.7 million
  • Group operating profit before amortisation is £22.3 million
  • Internet services shot up 108 per cent to a turnover of £336.7 million - 40 per cent of Energis' total revenue
  • Restructuring costs of £1.3 million
  • Total depreciation of £119.4 million (up 38 per cent on last year)
  • Goodwill up to £39.5 million from £11.9 million

The company is also increasing its market share and working on bigger margins. However, it does not expect to make a profit or offer a dividend for another few years yet. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.