Date of announcement
23 May 2003 - IDC Success for GlobalCenter

GlobalCenter, the Melbourne based Internet, Hosting & Managed Services operation, which was acquired by Virtual Communities Limited back in April 2002, has completed its first 12 months of trading as a wholly Australian owned entity.

Tony Wells, General Manager of GlobalCenter said that "since the business was acquired by Virtual Communities Limited, our first 12 months of trading has contributed an EBITDA of $1.8 million and positive cash flow of $2.1 million. Our financial position is very secure under our new parent and our next 12 months look very exciting indeed. Since separating from Exodus US, the business under the Virtual Communities Group has undergone significant restructuring designed to offer significant service level improvements to our customers. Our high customer loyalty is a tribute to these improvements”.



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