Data centre set to pay maiden dividend

By Kewill Ludens
29 May 2009
Data centre set to pay maiden dividend

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In ferocious credit-crunch driven bear markets investors don’t like loss-making property-related companies with big chunks of debt on their balance sheets.

This helps explain why shares in this provider of data centres saw its shares plummet in 2008 from their 2007 peak of 350.25p to a low of 130p on 31 December 2008. 

Since then, they have recovered strongly as investors realise that the company is on course for strong growth and that the continued growth of data hungry Internet usage means that prospects for the business remain excellent.

The shares began to shoot higher after the company reported a strong set of full year figures for 2008. Sales rose 35.9 per cent to £133m, up from £97.9m the previous year and £68.9m the year earlier.

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