Dutch IT services provider Pink Roccade has said that it will achieve slightly higher than expected earnings before interest and tax and amortization in its fourth quarter ended December 31, 2003, despite still expecting net revenue to fall 10% year-on-year in its full year 2003 results to be published in March.
The EBITA improvement is due to a margin improvement of Dutch activities in the fourth quarter, according to a statement from the company. Nevertheless, the company’s struggling UK business is still undergoing restructuring which will reduce full year margin to lower than the 4.1% achieved in 2002.
However, as some consolation, the company has said that it expects the UK operations to reach profitability in mid-2004. Pink Roccade’s net revenue was 816.3m euros ($1bn) in the full year 2002.
This article is based on material originally published by ComputerWire