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Affinity expands Down Under

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Triffick

By Tim Richardson • Get more from this author

Posted in Music and Media, 15th March 2002 13:36 GMT

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The UK's Affinity Internet Holdings plc is to acquire Australian ISP Phoneware Online Pty Limited, in a paper deal worth around A$600,000 (£221,000)

Phoneware has around 8,000 ISP customers who generate around A$3 million (£1.1 million) a year in turnover.

Execs at Affinity reckon they can save around A$250,000 (£92,000) a year in overheads and increase turnover to A$5 million (£1.8 million).

In November last year Affinity reported that its Australian operations - which are based around telecoms - were edging towards profit.

At lunch Affinity's shares were up 15.5p (6 per cent) at 269p.

Elsewhere, recruitment outfit jobs.co.uk reported increased sales and widening losses as it admitted that it was unlikely to make a profit this year.

Turnover for the year to December 31 increased from £7,000 to £98,000 in 2001. The company's pre-tax losses increased from £124,000 to £517,000. ®

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