THUS Turns Cash Flow Positive
Posted: 28th Jan, 2004 By: MarkJ
THUS (Demon Internet) has today confirmed that they turned free cash flow positive in the third quarter of the financial year, which ends on 31st March 2004, one quarter earlier than expected:
THUS delivers positive free cash flow ahead of target
THUS Group plc today announces that the Company turned free cash flow1 positive in the third quarter of the financial year, which ends on 31 March 2004, one quarter earlier than expected. As a result, THUS will be free cash flow positive for the second half of the current financial year.
The early delivery of free cash flow positive marks an important milestone in the development of the business. THUS believes that it is the first UK alternative telecommunication operator to have achieved this goal on a sustainable basis.
The Board remains comfortable with expectations for the full year and is confident that the business is on a steady trajectory to deliver positive operating profit in the second half of the next financial year ending 31 March 2005.
The company will announce a pre-close trading update on 29 March, ahead of its Preliminary Results on 4 May 2004.
Commenting on today's trading update, William Allan, Chief Executive said: "Today's announcement validates our consistent focus on delivering profitable growth to create sustainable shareholder value. Despite challenging trading conditions and continued uncertainty on the market structure for UK telecommunications, we remain confident on our trajectory for our key financial objective for operating profit in the second half of the next financial year."
THUS delivers positive free cash flow ahead of target
THUS Group plc today announces that the Company turned free cash flow1 positive in the third quarter of the financial year, which ends on 31 March 2004, one quarter earlier than expected. As a result, THUS will be free cash flow positive for the second half of the current financial year.
The early delivery of free cash flow positive marks an important milestone in the development of the business. THUS believes that it is the first UK alternative telecommunication operator to have achieved this goal on a sustainable basis.
The Board remains comfortable with expectations for the full year and is confident that the business is on a steady trajectory to deliver positive operating profit in the second half of the next financial year ending 31 March 2005.
The company will announce a pre-close trading update on 29 March, ahead of its Preliminary Results on 4 May 2004.
Commenting on today's trading update, William Allan, Chief Executive said: "Today's announcement validates our consistent focus on delivering profitable growth to create sustainable shareholder value. Despite challenging trading conditions and continued uncertainty on the market structure for UK telecommunications, we remain confident on our trajectory for our key financial objective for operating profit in the second half of the next financial year."
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