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Phoenix IT Group plc has provided an update on trading for the financial year ended 31 March 2015. During the past six months, the Group has seen good trading across the business. The Group therefore continues to expect to report profits that are comfortably in line with market expectations. Once again strong progress has been made in reducing the net debt position, which stood at £49.0m at the year-end (2014: £56.1m), ahead of the Board’s expectations.

The Group expects to announce results for the year ended 31st March 2015 on Monday 8th June.

Within Business Continuity, Phoenix IT Group has agreed a five year contract with Shop Direct. Growth in Business Continuity planning and consultancy has been aided by the release of a much-upgraded version of the Group’s ShadowPlanner product. Read the full statement.

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