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Phoenix IT Group – forecasts downgraded following interim results

2013-11-29 14:15:01

Following its results announcement for the six months ended 30th September 2013 yesterday, I reviewed the current situation at UK IT services group, Phoenix IT (PNX) – see HERE. The following updates with the views and revised earnings forecasts of brokers to the company Investec and Numis.

ARTICLE

Phoenix IT Group - interim results, any sparks of recovery?

2013-11-28 15:10:08

UK IT services group, Phoenix IT (PNX) was one of the first companies I covered on this website earlier this year (see HERE) – concluding, with the shares then at 157p, that the valuation didn’t look attractive. The following updates – with the shares at 145p – on the back of the company's results announcement for the six months ended 30th September 2013.

ARTICLE

Phoenix IT Group – a phoenix from flames?

2013-02-19 12:00:00

Phoenix IT Group (PNX), a fully-listed IT services company to UK enterprises, updated last week (13th February 2013) that it “currently believes the Group’s EBITDA for the year to 31 March 2013 will be around 10% below market expectations, but is encouraged by an improving order book and pipeline”. Having traded at more than 230p in 2012 and commenced 2013 at 184p, the shares presently trade at 157p, capitalising the company at £118.3 million. In light of the ‘improving order book and pipeline’, the following reviews whether there is value on offer here…




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