Gen-i’s earnings fall in quarter

Gen-i’s earnings fall in quarter

Telecom's IT services unit Gen-i, earnings before interest, tax and depreciation (EBITDA) decreased 15 percent to $107 million in the fourth quarter compared to the same period last year.

IT solutions EBITDA in the quarter grew to $13 million from $11 million, but was offset by telecommunication EBITDA declining 18 percent due to a one-off adjustments, Telecom says.

“The quarter saw $446 million in client contracts closed, bringing the total to $1.2 billion for the year to date,” says Chris Quin, Gen-i's CEO.

“The mobility campaign has delivered significant results, and we successfully implemented a single integrated service management platform across telco and IT Services. This played a large part in the 49 percent growth in IT services EBIT year on year.”

Telecom's Retail's EBITDA was down 6 percent in the quarter to $180 million when compared to the equivalent quarter.

Network division Chorus's EBITDA was up 2 percent in the quarter to $140 million compared to the equivalent quarter in 2008.

Read more at Computerworld.

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