Conduit to show profit by 2002

Conduit, the Dublin-based provider of telephone directory assistance services, which is to float 20 per cent of its stock on the Neuer Market in Frankfurt, on Friday, should move into profits in 2002. Commerzbank, in a review of the company, said losses before interest and tax should rise from €2.0 million to €5.2 million in the year ended March 31st 2001. In the following year it has estimated profits of €2.5 million rising to €25.6 million in 2003.

From an expected 47 million calls in 2001, Commerzbank believes Conduit is capable of increasing its total call volumes to 203 million by 2003.