Thus to hit targets

Racing Demons

Thus - the alternative telco best known for its Demon Internet brand - reckons it's on target to meet it financial expectations for the year.

Publishing an update of its trading position today ahead of interim results for the six months to the end of September due out early in November, the company said that it's likely to report double-digit turnover growth compared to the first half last year.

Earnings before interest etc. (EBITDA) is also expected to have doubled as its operating loss halves.

In a statement chief exec, William Allan, said: "During the last six months, we have been encouraged by strong growth in many of our individual service lines and by the addition of new corporate contracts that will positively impact our second half performance.

"While we remain cautious on the continued impact of financial distress from some competitors on the market structure for the telecommunication sector, we remain on track to meet full year expectations and to deliver sustainable positive cash flow after interest and capital expenditure in quarter four of the current financial year."

By mid afternoon shares in Thus were up 1.25p (4.46 per cent) at 29.25p. ®

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