| Synstar publishes six-month results
John Leighfield, chairman of Synstar, explained:
“This is a resilient financial performance given the extent
of change in Synstar's business over the past six months. The management's
focus has been on moving the company towards higher margin managed
services contracts and we have invested heavily to achieve this.
The changes effected during this financial period give us a strong
base for the full year and the longer term market In terms of Synstar’s business continuity division, Steve Vaughan, chief executive, commented: “Business Continuity is progressing. We have now opened our second centre in Luxembourg and signed customers such as the Bank of Bermuda. Our Dublin centre has been expanded to 640 seats, our centre in Scotland has been refurbished and we have a good business continuity business in Germany. We have expanded our Newbury centre to provide a proactive infrastructure management service capability. The profit from this part of our business remains healthy. As we combine business continuity with other parts of our high availability offering, we have good prospects. We are already seeing business continuity customers expanding requirements into replication, managed hosting and other higher value services that we are well placed to provide.” The six month period saw Synstar’s business continuity revenues fall by £0.2m – the company says that this was caused by a move away from low margin sub-contracted consultancy work. Business continuity margins have remained broadly constant at around 15 percent.
•Date:
2nd June 2004 •Region: UK/W.Europe •Type:
Article •Topic: BC
markets |
