Zenitel announces its third quarter trading update
Zenitel reports further growth in its continuing operations and reduces its current governance structure.
Per 30 September 2009, revenues from continuing operations grew by 5%, totalling EUR 50.0 million, versus EUR 47.5 million in 2008. The revenue growth is mainly explained by the revenue growth in Denmark, thanks to some large projects in the police and rail segments. Secure Communications Systems’ revenue decreased by EUR 1.2 million or 3%, which is fully attributable to the exchange rate translation impact (NOK, USD and SGD). When eliminating the foreign currency translation impact, SCS revenue increased by some 4% compared to previous year. This increase is mainly driven by the increased sales in Asia and its continuing success in the Marine business.