LONDON (Thomson Financial) - Telent PLC posted a sharp rise in its
first-half pretax profit, as exceptional gains from disposals and other
activities offset a slowdown in Germany.
The telecom and IT network services company's pretax profit from continuing
operations surged to 52 mln stg from 4 mln stg in the year-ago period while
revenue rose to 149 mln stg from 147 mln stg. Adjusted operating profit from
continuing operations was flat at 11 mln stg.
Telent's profits were driven by an exceptional profit of 17 mln stg on the
disposal of its facility in Germany, compared with a one-time charge of 14 mln
stg in the previous year. It also had a 4 mln stg profit from liability
management against a 5 mln stg charge earlier.
The company said it experienced a slowdown in Germany in spending by its
major Utility customers, while in the UK, its Telco Services business was hit by
lower-than-expected levels of network build activity.
TFN.newsdesk@thomson.com
faj/slm
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