The delay in the completion of the data centre will have an adverse material impact on Teliti International's results for the full year 2012, the board warns in its Interim report. Despite the Company expecting overall growth for the full year 2012, and Teliti Solutions and Teliti Services on track to meet expectations, the pre-tax profits for the company will be less than half market expectations.
This is due to the loss of any significant revenue contribution from Teliti data centres for the year, although this is partially offset by the reduced interest charges resulting from the delay in drawing down on the Company's banking facility. The Board is in discussions with the bank regarding the release of the remaining funds, which are required to bring the data centre into operation. The Board is confident that the matter will be resolved in the near future, however further delays would result in the Datacentre not being opening until 2013.