Directory services firm Conduit, based in Dublin, has predicted full-year revenues exceeding €30 million (£38 million) due to new services coming on line. The group yesterday reported revenues of €20.9 million for the nine months to December 31st, an increase of 222 per cent on the comparable period last year. The triple digit increase was attributed to the impact of the group's directory service contract with Orange and the opening up of the directory services market in Ireland where Conduit operates the 11850 service. Conduit also provides directory services for Esat and Esat Digifone.
Mr Rory Nealon, Conduit's chief financial officer, said growth was expected to accelerate in the final quarter for several reasons. They included the first-time impact of a new contract to provide directory inquiries for Telewest in the UK and a 11850 service in Austria.
Operating losses in the nine months under review grew to just more than €4 million compared to €1.5 million previously. Higher advertising spending accounted for much of the rise, said Mr Nealon. The net loss per share was 18 cents compared to 13 cents last time. Conduit shares rose 1.27 per cent to €15.60.
