Energis makes loss of €731,940 in 2005

Energis Communications Ireland Ltd, the telecoms service provider to large organisations, made a loss of €731,940 in the year to end March 2005, according to accounts just filed.

The pre-tax loss compares to a loss of €3.145 million the previous year.

Energis is a fixed line telecoms operator with operations in Ireland and the UK. It was bought last year by Cable & Wireless (C&W) for an initial cash consideration of £594 million (€866.4 million).

The combined UK and Irish operation made a profit before interest and depreciation, in the year to March 2005, of £116 million. However, the "operating profit" was only £1 million.

A spokeswoman for C&W said the company would be making an update statement to the market in late February and would be willing to answer questions about the former Energis business then. The Energis business is being integrated into that of C&W.

The accounts for Energis Communications Ireland show turnover in 2005 was €23.3 million, compared to €21.37 the previous year.

However, operating expenses increased to €24 million from €20.9 million.

Accumulated losses at the end of March 2005 were €64.5 million.

The accounts state the company employed 13 people during the period, at a cost of €1 million. There were two directors, Conal Henry and Jeremy Michael Bishop, and total directors' emoluments were €159,307.

In 2002 a number of banks owed £690 million took over Energis and injected fresh funds into its UK and Irish operations. The company had been a plc but its share price plummeted in January 2002 after it issued a profit warning.

The company concentrates on servicing large operations and its clients include the BBC, DHL, Trinity Mirror, and Vodafone.