Articles about Phoenix It Group

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Daisy Group seals Phoenix IT Group buy, exec set for exit

Some execs at LSE-listed Phoenix IT Group are edging toward the exit, El Chan can reveal, after the proposed takeover by Daisy Group today got the official rubber stamp. The approach from privately owned Daisy came in May when it offered 160 pence per share for Phoenix in a transaction that valued the equity at £135m. The …
Paul Kunert, 16 Jul 2015

Phoenix IT Group: we hired 20 bods for config/ distie centre

What Phoenix IT Group giveth with one hand it taketh with another: the services group is hiring 20 bods to man a new config centre, the same number it is waving goodbye to this month in the repairs biz. The 15k sq ft config and distribution centre based in Farnborough cost £500k to set up and it will combine storage and staging …
Paul Kunert, 30 Mar 2015

Daisy Group offers to gobble Phoenix IT Group for £133m

Acquisitive B2B tech and comms player Daisy Group has bid 160 pence per share for LSE-listed Phoenix IT Group valuing the services operation at around £133m. Talk of a deal has rumbled along for more than a year but with Phoenix in the middle of a three-year turnaround plan under the latest CEO and no longer reporting steep …
Paul Kunert, 21 May 2015
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Daisy Group: Yep, we're gonna eat you all up, Phoenix IT Group

Directors at Phoenix IT Group are “unanimously” backing the 160-pence-per-share offer that was formally made by Daisy Group this morning, valuing the entire share capital at close to £135m. Discussions between LSE-listed Phoenix and the suitor were made public last week, leaving Daisy 28 days to come back to the table with a …
Paul Kunert, 27 May 2015
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Phoenix IT Group says 'see ya' to repairs staff

Phoenix IT Group is outsourcing the lion's share of its repairs workshop work to Centrex, with staff set to TUPE across to their new employer by the end of this month. Some 20 workers entered into consultation “recently”, the company told us, and are expected to relocate from their current Northampton base to the national …
Paul Kunert, 25 Mar 2015
A daisy

Daisy completes Phoenix IT gobble

Acquisition-ravenous Daisy Group has completed its gobble of tech services outfit Phoenix IT Group. The deal is a sizeable purchase for Daisy, with Phoenix turning over £233.4m in sales for the full-year 2014. The 1,400 engineers working for Daisy and Phoenix will be merged in the Partner Services division. The Phoenix …
Kat Hall, 31 Jul 2015
£10 notes. Pic: Howard Lake

Phoenix IT Group comes back in black as new owners beckon

Phoenix IT Group is back in the black following the first full year of CEO Steve Vaughan’s turnaround strategy, in what is likely to its last fiscal before the Daisy Group acquisition is sealed. The LSE-listed organisation is still struggling to get the top line moving in the right direction, as revenue fell nine per cent year- …
Paul Kunert, 08 Jun 2015
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Phoenix IT Group: Our debts are down! Just like our sales and profits

A year on the job for Phoenix IT Group CEO Steve Vaughan and company sales and profits aren’t dropping nearly as quickly as they used to. The tech services outfit closed off fiscal ’15 ended 31 March reporting brisk trade “across the business” and expects to bank “profits that are comfortably” in sync with analyst estimates. …
Paul Kunert, 09 Apr 2015
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A turnaround plan within a turnaround plan for Phoenix IT Group

Phoenix IT Group execs are labouring under the “assumption” that the firm will not be sold to Daisy Group – they have to – and are hatching a turnaround plan within a turnaround plan for Partner Services. As the board at the LSE-listed tech services outfit is recommending a 160 pence per share offer from Daisy that values the …
Paul Kunert, 09 Jun 2015

Phoenix IT Group 'trading comfortably in line with forecasts'

It is almost a year since Steve Vaughan grabbed control of Phoenix IT Group, and the once-troubled tech services outfit no longer seems so ... well, troubled. The LSE-listed Northampton company issued an interim today to say group trading is “comfortably in line with market profit expectations”, and talked up a number of …
Paul Kunert, 24 Feb 2015
Roughly 150kg of gold

Gold to bind Phoenix IT, Daisy, Cisco

Phoenix IT is likely to rekindle its partnership with Cisco when the Daisy Group completes the acquisition of the services provider, as expected in the not-too-distant future. In late 2013, El Chan revealed Phoenix was among 1,000 companies across EMEA told by Cisco that their right to sell its kit was to be removed because they …
Paul Kunert, 29 May 2015
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

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

Phoenix IT Group CEO: Turnarounds don't happen overnight

The turnaround at Phoenix IT Group initiated by CEO Steve Vaughan was never going to happen overnight and the latest set of declining half-year numbers for the period ended September are testament to that point. The LSE-listed tech services biz this morning reported revenues of £107.4m, down 8.1 per cent on the corresponding six …
Paul Kunert, 25 Nov 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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Phoenix boss grabs industry vet to run Partner Services biz

Phoenix IT Group boss Steve Vaughan has tapped up a former colleague Alistair Blaxill to run the Partner Business, the tech services’ firm’s largest and some would say most troubled division. Blaxill replaces Bill Simpson, who has left the business to “pursue other opportunities”, the London-listed company confirmed, though it …
Paul Kunert, 05 Sep 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
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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

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

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 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
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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
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

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
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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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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
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IBM outsources UK desktop support operation lock+stock to Phoenix

Exclusive 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
A daisy

Daisy Group’s Riley: Integration of £200m + acquired beast starts today

Management at Daisy Group today start the mammoth task of integrating Phoenix IT Group, and getting the respective sales staff to cross-sell following yesterday’s purchase completion. The acquisition of tech services outfit Phoenix is the 48th acquisition Daisy has made since it was founded by chairman Matthew Riley in 2001, …
Paul Kunert, 17 Jul 2015

UK Cabinet Office's £200m IT bonanza: I got 999 contracts but a pitch ain't won (yet)

The UK government is seeking as many as 999 firms to provide a raft of tech services across the public sector, according to a contract notice in the Official Journal of the European Union. The Cabinet Office, acting via government procurement body Crown Commercial Services, is splitting the Technology Services framework into 11 …
Paul Kunert, 05 Nov 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

Mega GP tech services framework badge awarded

Insight UK and Phoenix IT Group are flying the flag for mainstream tech suppliers after scoring a seat on the mammoth General Practice Systems of Choice (GPSoC) framework. GPSoC covers 75 per cent of GP surgeries in England and is administered by the Health and Social Care Information Centre, which provides information, data, …
Paul Kunert, 24 Nov 2014
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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 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

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 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