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back to article Phoenix revenues dip but profits stay aloft

Phoenix IT Group is surviving the recession - underlying profit is up four per cent and it has maintained margin at 14 per cent. For the year ended 31 March Phoenix saw revenues shrink, as expected, 2.9 per cent to £245.8m. But underlying profit before tax grew 4.2 per cent to £34.4m. As result it will increase share …

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  1. Anonymous Coward
    Grenade

    Do profits relate to staff cuts ???

    Just wondering what proportion of these profits are down to redundancies, pay cuts and the like ??

    There have been a number of "cost savings" in Phoenix and staff are suffering - especially in the Sun (Oracle) Business Unit,,,,

    There are also rumours of investigations by Unison,,,,,,,

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