LONDON -(Dow Jones)- NetServices PLC (NSV.LN), a voice and data services provider, Monday said it expects to swing to a fiscal 2009 operating loss of around GBP200,000, as it is taking a while to win new business from industry heavyweights.
The group, which made a fiscal 2008 operating profit of GBP535,000, said it has taken time to establish and develop relationships with new clients to start bringing cash into the business.
The firm won Cisco industry accreditation earlier this year, and at the time said it would likely attract significant new business from competitors BT Group PLC (BT) and Cable & Wireless PLC (CW.LN).
NetServices - which had GBP600,000 in cash at Aug. 31, the end of its fiscal year - added that talks are continuing with Fibernet UK Ltd., which could lead to a drop in the contractual obligation relating to its supply contract with Fibernet. But the firm said the talks are yet to reach a satisfactory conclusion.
Company Web site: www.netservicesplc.com
-By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; hannah.benjamin@dowjones.com
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