Telecity shares jump on 2014 growth spurt

Oliver Smith
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TELECITY’S shares leapt nearly 15 per cent yesterday after the British data centre operator reported a strong first quarter start to 2014.

The company’s revenue grew 9.4 per cent, excluding the impact of currency changes, with strong trading reported in Amsterdam, Stockholm and Dublin.

“The level of gross order wins in the UK division has been encouraging. The division has delivered one of its strongest ever quarterly gross order wins,” said Telecity.

Telecity maintained its full year 2014 revenue growth target of 10 per cent with guidance remaining within the £355m to £362m range.

Shares in the company closed up at 728p per share.

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