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Press Releases

Profits surge at CSF

19th November 2010, Investors Chronicle

  Although profits from data centre operator CSF were boosted by the £4.6m sale and leaseback of its CX1 data centre in the first half, underlying pre-tax profits still jumped 118 per cent to £2.1m. Revenue was split 50:50 between data centre rental and project management fees, which rose 19 per cent and 27 per cent, respectively, in the six-month period.
Underlying market conditions remain strong, thanks to soaring internet usage, online retail and mobile applications. Data centre utilisation is up to 79 per cent since the period-end and CSF is negotiating with other customers to take the remaining space by the year-end. The new CX5 data centre will double overall capacity to more than 400,000 sq ft, and should come on stream just as existing data centre facilities are nearing full utilisation. Customer trials have commenced at a small data centre in Hanoi, Vietnam. Talks over new projects across the region may well lead to positive newsflow over the coming weeks, particularly in Singapore – a “must have” market as far as CSF is concerned.
Broker Cenkos Securities expects full-year pre-tax profits of £10m and EPS of 5.3p, rising to £12.8m and 6.7p in 2012 (from £9m and 5.6p in 2010).