TELECITY, the group that provides data storage for BBC iPlayer and Xbox Live, yesterday reported a leap in profits of more than 100 per cent last year.
Profit after tax rose 109 per cent to £32m and earnings per share were up 108 per cent to 16.2p.
Revenue was up 27 per cent to £169.4m. The results were well above the annual expectations and marginally higher than adjusted third quarter forecasts.
Telecity is Europe’s leading provider of data storage. It holds data for companies including Sony’s PlayStation, Microsoft’s Xbox and BBC’s online TV streaming iPlayer.
Telecity was the last tech stock to list on the main London market, when it made its IPO in October 2007.
A spokesman told City A.M. “People were sceptical when we first listed but over time we have outperformed expectations. We predict further rises next year and are confident in the future of the business.”