Conduit shines amid telecoms gloom

Directory inquiries firm Conduit has cheered the gloom beset telecoms sector by revealing it had passed the breakeven barrier ahead of schedule.

Conduit, which provides directory inquiry services in the UK, Ireland, Switzerland and Austria, said it had turned a profit of 68,000 euros in the first three months of the year, compared with a 2.8m euro loss a year before.

The Dublin-based company claimed 50% of the directory inquiry services market for UK mobile phone callers, and 11% of the overall market.

And it forecast further earnings growth as the UK market was deregulated, and BT lost its monopoly position.

The next year would see "particular emphasis on further expansion of our UK business", chief executive Liam Yong said.

"Conduit is well positioned to take advantage of the deregulation opportunity in the UK."