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Articles about Phoenix It Group

Brit biz Phoenix IT Group confirms £16m of contract wins

A flurry of biz wins worth more than £16m were this morning confirmed by the new CEO at Phoenix IT Group - the man brought in to turn the loss-making British firm into a profit generating machine. Former EDS and Synstar exec Steve Vaughan, was hired in March to design a turnaround plan, which includes the, er, mind-blowing …
Paul Kunert, 16 Jul 2014
SOURCE:  http://www.sxc.hu/browse.phtml?f=view&id=1412135

Leaky channel tanker Phoenix IT Group: It's steady as she goes

Investors received no nasty surprises in a trading update from leaky channel tanker Phoenix IT Group as the turnaround plan plotted by the latest exec at the helm remains on course. The infrastructure and managed services outfit said in an interim management statement covering 1 April until 11 August that trade is “broadly in …
Paul Kunert, 12 Aug 2014

Phoenix IT Group is FIGHTING BACK

A fightback has begun at beleaguered Phoenix IT Group after the services provider confirmed it has at last filled the vacant CEO post and is proposing a share placement to pay down debts. It is 17 months since previous top dog Dave Courtley called it a day at Phoenix, but finally the Northampton-based firm has lured in former …
Paul Kunert, 12 Mar 2014
Red pen

Phoenix IT Group shares plunge on loss of £2m contract

A brief statement from Phoenix IT Group confirming it has lost a £2m contract with a supplier sent the share price into free fall this morning and caused a big dent in the market cap. The loss-making IT services firm - a third party maintainer which also sells direct to customers - provided very little colour around the …
Paul Kunert, 28 Oct 2013

Mighty Cisco terminates British channel chum Phoenix IT Group

Cisco has confirmed it was the unnamed vendor that gave top certified services partner Phoenix IT Group its marching orders last week - a move which sent the Phoenix share price tumbling by around 11 per cent. Northampton-based Phoenix resold Cisco kit as a Gold partner but also provided third party maintenance bolted onto Cisco …
Paul Kunert, 05 Nov 2013
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Phoenix IT Group in talks to offload Cisco services biz to BT – sources

Phoenix IT Group is quietly negotiating with BT to hand over customers whom it previously provided with Cisco services, sources have told The Channel. This comes in the wake of Phoenix's dramatic and damaging removal from the networking giant's partner channel. It emerged last week that service provider Phoenix had been dumped …
Paul Kunert, 11 Nov 2013

Cisco seeks custody of biz kids amid Phoenix IT Group divorce

Cisco has extended access to its facilities and software upgrades to customers of its soon-to-be-ex "Gold Partner" Phoenix IT Group, which had also provided maintenance services. LSE-listed Phoenix confirmed it was being divorced by an unnamed vendor last month, which it expected to cost the biz £2m a year in profits. Then Cisco …
Paul Kunert, 21 Nov 2013
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Phoenix IT Group CEO hatches three year turnaround plan

The latest CEO tasked with taking "overly complicated" profit bleeding Phoenix IT Group out of intensive care says a return to rude health will take multiple years but should not involve major amputations. Industry vet Steve Vaughan came on board in the spring, filling the top job that lay vacant for 17 months, and embarked on a …
Paul Kunert, 11 Jun 2014
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Nooo, ANYTHING but BT! Cisco gives 'stay of execution' to Phoenix IT

Cisco has prolonged Phoenix IT Group's termination notice period following what sources describe as a backlash from some customers over the planned novation of certain contracts to BT. The networking goliath gave Phoenix marching orders at the end of last month, with sources alleging it was caught selling grey market kit and had …
Paul Kunert, 20 Nov 2013

Phoenix IT Group blames former CEO and economy for woes

Phoenix IT Group chairman Peter Bertram fingered his former CEO and the fragile economic recovery as reasons why trade remains damp and profits have yet to rebound in a more meaningful way. At the half way stage of fiscal '14 for the six months to 30 September, the beleaguered LSE-listed firm reported a near six per cent decline …
Paul Kunert, 28 Nov 2013

CEO of Brit biz Phoenix plans to 'ram-raid' old friend, new enemy Cisco

The boss at Brit services provider Phoenix IT Group wants to "ram raid" former vendor partner Cisco. The UK biz is currently bulking out its portfolio, with Chinese networking firm Huawei Enterprise the latest addition. In the autumnal months last year, Cisco wrote to 1,000 firms across EMEA telling them it was withdrawing …
Paul Kunert, 11 Jul 2014

Misco set to snap up Phoenix's network ops centre AND its staff

Phoenix IT Group is set to offload its network operations centre in High Wycombe to Misco, TUPEing across staff in the process. The lease on the building is expected to be assumed by direct marketing reseller Misco, which, under the guidance of former Dell exec Pim Dale, is trying to rely less on tin shifting by building a …
Paul Kunert, 14 Feb 2014

Phoenix IT group's profits turn to smoking pile of ashes

Managers at the beleaguered Phoenix IT group haven't had much luck in fiscal '13, with personnel changes, accounting woes and the flatlining economy all weighing heavily on them. The meagre fruits of their labour were laid bare yesterday. Phoenix made an underlying profit from operations of £19m in the twelve months to 31 March …
Paul Kunert, 04 Jun 2013
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Phoenix IT Group signs £40m desktop support win

Phoenix IT Group has inked a five-year £40m desktop support deal with an unnamed customer, the troubled firm revealed today. This is the sort of news investors will cheer after a challenging year in which the Northampton-based firm axed staff, watched its profits collapse, unearthed serious accounting errors, and accepted its …
Paul Kunert, 26 Nov 2012
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WHOMP: Mega UK services player Phoenix IT falls back into the ashes

There was no sound of popping champagne corks at Phoenix IT Group this morning – just anguished cries coming from the boardroom as execs warned trading results are getting worse. The LSE-listed IT services player pushed out an interim Q1 2014 statement covering 1 April to 30 June, saying it "continues to be cautious" about its …
Paul Kunert, 01 Aug 2013

Phoenix IT Group injects fresh blood, hopes to heal from accounting boo-boos

Troubled Northampton-based player Phoenix IT Services has quietly introduced new blood to the organisation. The IT services specialist recently posted numbers for the halfway (30 September) point in fiscal 2013, with sales diving £7m to £124m and operating profits falling to £9.9m from £14m (restated) in the previous year. This …
Paul Kunert, 11 Dec 2012

CEO of Brit giant Daisy Group in talks to take biz private

Matthew Riley, the man in charge of perpetually hungry comms and tech titan Daisy Group, is part of a consortium that has made advances to buy the LSE-listed biz. The group today confirmed it “received an approach” on 27 July from its largest shareholder Toscafund Asset Management LLP and Penta Capital, as well as Daisy chief …
Paul Kunert, 13 Aug 2014
Red pen

Phoenix IT Group fesses up to 'accounting irregularities'

Phoenix IT Group has suspended a business manager amid a probe into accounting irregularities that the firm reckons will result in £14m being wiped from net assets. The listed IT services group revealed in a statement to the London Stock Exchange this morning that it has named PwC and Nabarro LLP to "carry out independent …
Paul Kunert, 03 Sep 2012
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Phoenix IT Group tumbles off a cliff: £63m in losses

There's trouble at Phoenix IT Group - the services provider has recorded losses of more than £60m, been forced to take a massive hit from accounting errors and is laying off staff. The results of accounting errors are in and the firm has taken a post-tax knock of £17.3m, forcing it to restate multiple year results after finding …
Paul Kunert, 29 Nov 2012
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Chief leaves Brit IT giant Phoenix after just 15 months

Phoenix IT Group chief exec Dave Courtley has quit the firm after less than 15 months in the role, the LSE-listed IT services company confirmed this morning. The former Fujitsu Services bigwig rocked up at Northampton-based Phoenix in July 2011 replacing long-serving boss Nick Robinson, who stepped down after 18 years at the …
Paul Kunert, 04 Oct 2012
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Phoenix IT Group to axe over 300 jobs

Phoenix IT Group is to axe more than 300 jobs as part of a company-wide reorganisation. As previously revealed by El Reg, the IT services firm murdered the ICM brand and placed the system integration, comms, hosting, managed services and business continuity operations under the Phoenix banner from January. The LSE-listed firm, …
Paul Kunert, 31 Jan 2012
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Last day on the job for Phoenix IT Group boss

Phoenix IT Group's long-serving chief exec Nick Robinson is hanging up his boots today after attending his last Annual General Meeting in the role. The services provider and reseller is handing captaincy of the ship over to industry veteran Dave Courtley at the beginning of next week. Courtley will need to draw upon his …
Paul Kunert, 28 Jul 2011
For Sale sign detail

Phoenix IT Group bags industry veteran Courtley as CEO

Phoenix IT Group has appointed industry veteran and former Fujitsu Services UK boss Dave Courtley as CEO replacing current incumbent Nick Robinson who is set to retire later this month. Robinson hangs up his boots on 28 July after 18 years at the LSE listed IT services players, with Courtley, former UK boss at Fujitsu Services, …
Paul Kunert, 07 Jul 2011
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IBM outsources UK desktop support operation lock+stock to Phoenix

IBM is the Global Services Provider (GSP) that is outsourcing desktop support to Phoenix IT Group, The Channel can reveal. Yesterday Phoenix confirmed it has penned a five-year £40m contract with an unnamed GSP to provide desk-side services for the firm's employees as well as its customers. Around 180 IBM staffers are to be …
Paul Kunert, 28 Nov 2012
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Phoenix burns engineering and Northampton call centre jobs

Phoenix IT Group has told HQ-based call centre staff and a bunch of field engineers that their jobs are at risk of redundancy, insiders have told The Channel. The headcount reduction is part of a phased plan to chop 300 workers, and is understood to have led to some rationalisation in sales and marketing including the exit of …
Paul Kunert, 30 May 2012

Brit IT firm turnaround man: He's fixed the broken toilet, can he fix the busted biz?

It has been four months since Phoenix IT Group brought in its Mr Fix It, a chief executive tasked with reversing the misfortunes of the stumbling tech services company. Hired in March, Steve Vaughan has spent most of his time re-writing company strategy, but in his spare time got the broken disabled toilet in the Northampton …
Paul Kunert, 18 Jul 2014
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Phoenix restructure sends profits down in flames

Phoenix IT Group saw its wings decisively clipped over the last year, as a wide-ranging restructure battered profits and helped knock sales off-course in an already tough market. The services group insisted it was confident it will see revenue growth over the current year, but remained “cautious” about its likely performance in …
Joe Fay, 28 May 2012
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Phoenix IT sales up but op profit down

Rising demand for outsourced services boosted Phoenix IT Group's top line growth in fiscal 2011 but the cost of funding the firm's continued shift to the cloud saw operating profits dip. According to prelims, revenues climbed 10.5 per cent to £271.6m, operating profit fell by £500,000 or 1.6 per cent to £29.6m and pre-tax profit …
Paul Kunert, 07 Jun 2011
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Markets whack Phoenix shares

Phoenix IT Group shares took a dive this morning after the company told markets this morning that business was on track, but it still has some worries about public sector cutbacks. Sales and profits from the end of last year, from 1 October, were in line with expectations. The Servo business it bought in 2006 had a decent third …
John Oates, 14 Feb 2011
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Phoenix on track for decent year

Phoenix IT Group has grown revenues by 13.4 per cent in the first six months of the year, up to £138.4m from £122m last year. For the period ended 30 September 2010 Phoenix said underlying profit before tax was up two per cent to £15.1m but group underlying operating profit was down very slightly - from £17.4m to £17.3m. The …
John Oates, 29 Nov 2010
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Phoenix sales and profits falling as UK economy burns

Phoenix IT Group is set for a structural revamp after the loss of major contracts in each of its operating divisions forced down sales and profits for the half year to 30 September. The IT services group recorded a 4.4 per cent decline in sales to £132.2m, operating profits fell 12 per cent to £13.9m and profit before tax …
Paul Kunert, 28 Nov 2011
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Phoenix revenues dip but profits stay aloft

Phoenix IT Group is surviving the recession - underlying profit is up four per cent and it has maintained margin at 14 per cent. For the year ended 31 March Phoenix saw revenues shrink, as expected, 2.9 per cent to £245.8m. But underlying profit before tax grew 4.2 per cent to £34.4m. As result it will increase share dividends …
John Oates, 07 Jun 2010
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Phoenix IT revs up in Q1

Q1 revenues were up 48 per cent for Phoenix IT, which posted an interim management statement today on the three months ended 30 June. The UK IT outsourcing group is not revealing hard figuers, but it says that organic revs were up 13.8 per cent, with the rest of the gain reflecting the fact that new-ish acquisition, the disaster …
Team Register, 14 Aug 2008
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Steady as she goes at Phoenix

Phoenix IT Group said trading for the six months ending 30 September 2009 has seen some improvement in the second quarter. The board of directors confirmed that trading and cash generation were in line with expectations. The firm said trading had improved from the first quarter, and annualised contract values stopped falling in …
John Oates, 28 Sep 2009
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Phoenix predicts hitting end of year mark

Phoenix IT Group confirmed today that trading, cash generation and non-recurring costs for the year ended 31 March 2009 have been in line with expectations. The company said it is saddled with net debt of £72.4m compared to bank facilities of £109m, and finance lease liabilities were about £16m. Non-recurring costs relating to …
Kelly Fiveash, 07 Apr 2009
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Phoenix warns of 5% rev fall in Q1

Services firm Phoenix IT Group has warned that first quarter revenue fell five per cent compared to same period a year earlier. The Northampton-based company, in an interim management statement, blamed a sharp decline in product sales and associated professional services in the mid-market division. For the three months ended 30 …
Kelly Fiveash, 31 Jul 2009
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Blighty's IT support services to decline in 2013, 2014, 2015....

2013 will be a "make or break year" for some IT firms in the declining UK support services space, according to the venerable beancounters at TechMarketView. In TMV estimates, the UK IT support and maintenance market declined 3.5 per cent in 2012 to £1.76bn, is set to fall 3.5 per cent again this year and by 2.5 per cent in the …
Paul Kunert, 11 Mar 2013
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Feel Cisco's WRATH: Over 1,000 placed on DENIED partner sh*t list

Cisco has launched an EMEA-wide crackdown in the channel after expelling Phoenix IT Group from the Gold Partner network, which our sources alleged was because it flouted support rules by supplying grey market kit. The Brand Protection police at the networking Goliath sent letters to more than 1,000 resellers, integrators and …
Paul Kunert, 08 Nov 2013
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Phoenix IT results show contract pain

Phoenix IT Group managed to hold up revenues and profits despite contract changes at its biggest customer. For the six months ended 30 September revenues were down to £54.4m from £54.8m for the same period last year. Profit before tax was £9.2m compared to £8.9m for the same six months of 2005. There are some delays in …
John Oates, 27 Nov 2006

Systemax CEO: Can't get consumer biz out of the crapper

It is a new calendar and financial year for shape-shifting box-shuffler Systemax but the same problem remains: it is hamstrung by a "weak" consumer division that is a burden on the relatively fit B2B operation. The New York-listed reseller last night reported Q1 results ended March with sales declining one per cent to $873.4m, …
Paul Kunert, 30 Apr 2014
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Phoenix makes tentative offer for ICM

Phoenix IT Group, a publicly-listed managed services company, has tabled a conditional offer to buy business continuity firm ICM Computer Group. The firms announced in January that they were chatting. Phoenix has put in an offer equating to 415 pence per share. At the time this article went to press, ICM last closed trading at …
Mark Ballard, 16 Mar 2007
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Phoenix profits better than expected

Phoenix IT Group said it had enjoyed “another successful year” in a trading statement issued yesterday. The services firm said it expects profits to slightly exceed expectations. It said it had continued to develop its core Phoenix business while its acquisition, NDR, had continued to perform strongly. It also pointed to …
Team Register, 31 Mar 2006
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Phoenix flies steady course in Q3

Phoenix IT Group said today that it saw a 16 per cent increase in third quarter like-for-like revenues buoyed by brisk sales. The Northampton-based managed services outfit said in an interim management statement that the Q3 period ended 31 December brought in a modest one per cent rise in orders compared to the same time in …
Kelly Fiveash, 28 Jan 2008
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Phoenix coughs £30.25m for Servo

Phoenix IT Group has bought UK small and medium-sized business IT provider Servo Computer Services for £30.25m. The deal is made up of stock, and £28m cash from Phoenix's coffers and bank finance. Servo's revenues for the last financial year were £42.2m, netting a pre-tax profit of £2.8m from its 1,200 customers. The buy is …
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Phoenix IT confident on year

Phoenix IT Group told the Stock Exchange that trading for the first six months to 30 September 2005 was in line with expectations. The firm's directors remain confident that trading for the year will be in line with expectations. Negotiations with BT and the Department of Work and Pensions over renewing a contract worth £12m a …
John Oates, 27 Sep 2005
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Phoenix tears Stafford from BT

Phoenix IT Group has appointed Jeremy Stafford as Chief Operating Officer. He will take up his position and join the Phoenix board by 1 July 2007. Stafford (44) is moving from BT, where he worked for 16 years, most recently as Managing Director, Government Business. He was previously UK MD, BT Syntegra, and before this led a …
Robin Lettice, 08 Jan 2007
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Phoenix maintains gentle ascent

The disaster recovery business has been keeping Phoenix IT Group heading skyward. Revenues were up overall by 16.3 per cent to £126.7m, which included five months of sales from Servo Computer Services, the SME IT services and product sales business that Phoenix acquired in November 2006. Excluding the Servo figures, "the like- …
Mark Ballard, 21 May 2007
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Phoenix jacks up profits

Phoenix IT Group is on the lookout for acquisitions this year as it looks to build on a solid financial performance in the 12 months to March. The services group reported turnover of £108.9m, up 23.3 per cent on the year, with pre-tax profit of £17.9m, up 61.9 per cent. Its order book stands at £148.7m, up 19 per cent. Chief …
Team Register, 18 May 2006
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Phoenix enjoys first half

Phoenix IT Group increased revenues by 32 per cent to £54.8m for the first six months of the year ended 30 September 2005. Profits before tax for the period grew 25 per cent to £8.9m. The company is paying an interim dividend of 1.38p per share. Nick Robinson, chief executive at Phoenix, said it had been an encouraging start …
John Oates, 23 Nov 2005
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Dell sees the channel light while Microsoft is cast as open source redeemer

It's finally happened. Dell has publicly stated what we in the channel have known all along. You can't live without resellers and partners. Not long after his second coming at the company and after many years of outright hostility to the indirect channel, CEO Michael Dell has undergone a conversion, telling CRN US: "There are …
Billy MacInnes, 24 May 2007