Cloud computing guides Telecity to maiden dividend
DATA centre Telecity is ready to reward investors as the group announced it will pay its first dividend following first half 2012 results later this year.
The company, which is based in London, yesterday reported revenues up 22 per cent to £239.8m for the year to the end of December, largely boosted by the growth of cloud computing as mobile data demand increases and large companies outsourcing their data hosting.
Pre-tax profits jumped more than a quarter on last year to £67m, surpassing market expectations of £65.7m. Adjusted earnings per share grew 11 per cent to 24.1p.
Telecity, the leading provider of carrier-neutral data centres across Europe, now has total available customer power of 68 megawatts, up from 58MW at the end of 2010.
Telecity chief executive Michael Tobin (pictured) said in a statement: “We have significantly enhanced the group’s future growth prospects, with investments being made in capacity across Europe and with the acquisitions of Data Electronics in Dublin and UK Grid in Manchester.”
Shares in the FTSE 250-listed firm fell one per cent to 648.5p.