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IT and datacentre services provider Teliti International Group Ltd says that there have been delays in billing so revenues will be lower than expected in the year to September 2012.
One customer cancelled a project worth RM6.1m. Revenues of RM58m are expected for 2011-12 and pre-tax profit will be around RM2.9m. Earlier in the year the profit forecast was RM13.8m. At 39p a share, down 4.5p, Teliti is valued at £9.17m.
The new datacentre should be completed by the end of 2012 but it will not be fully operational until the second quarter of Telitiís financial year. Teliti hopes to lease 45,000 square feet of the datacentre within 12 months of it commencing operation.
Teliti has started the year with RM41m of contracted revenues.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2012_36.pdf
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