Conduit profits soar to €5.5m
OPERATING profits at Dublin-based telephone directory services firm Conduit soared to over €5.5m last year from €1.3m a year earlier. Turnover at the company, which operates the 11850 enquiry service, was flat last year at just over €50m.
Conduit was acquired by US group Infonxx in 2006 for about €90m. Infonxx is now known as KGB, which also owns the 118118 directory enquiry service in the UK.
Accounts for Conduit show that €27.2m of its turnover was generated from services supplied in the UK, while in Ireland, sales amounted to €22.5m.
The company employs almost 400 people. Conduit operates six call centres and has boosted its business by securing contracts with companies such as Tesco Mobile, Bord Gais, Sky and Vodafone. to provide support services. In conjunction with BT, it has also begun operating the 999 emergency call service in Ireland.
The accounts also reveal that the deficit on the profit and loss sheet narrowed from €7.2m in 2008 to €2.3m at the end of last December. Conduit is headed by telecoms industry veteran Denis Creighton. He previously worked with Eircell, Vodafone and Eircom.