THUS, the Glasgow- based telecoms group, yesterday posted its maiden operating profit for the year and said outlook for the current 12-month period is in line with estimates despite the uncertain UK economy.

THUS, the Glasgow- based telecoms group, yesterday posted its maiden operating profit for the year and said outlook for the current 12-month period is in line with estimates despite the uncertain UK economy.

Operating profit for the year came in at £4m against the operating loss of £11.1m last year. Pre-tax losses narrowed to £2.7m from £15m previously on revenue that rose 8% to £576.2m, helped by growth in managed solutions and data and telecoms.

The group's managed solutions business saw revenues rise by 17%, data and telecoms increased by 11%.

"We are delighted to announce our maiden operating profit for the full year. This achievement further validates our busi-ness strategy to focus on next-generation services for our customers," the group said "Although there is uncertainty about the UK economy, the outlook for this financial year is in line with the board's expectations," it added.

Chief executive Bill Allan told The Herald the com-pany was meeting its strategic goals.

"We have stuck to our guns and every year the business is growing stronger," he stated.

He also said the company had good prospects for the current year and was aiming to improve profits.

"We are are very focused this year on ensuring the organic part (of the busi-ness) remains solid and we generate more cash and more operating profits."

He went on to say Thus was entering a "new tele-coms era" in which it would have to provide "more efficiencies" to its customers.

Commenting on the present darkening economic environment, Allan said Thus was in a good position to ride out a downturn or even a recession.

"We run a conservative balance sheet," he stated, "and this gives our customers confidence in the company."

He pointed out that Thus is in a good position because it has low gearing and a robust cashflow.

Allan also told The Herald that he welcomes consolidation within the telecoms industry and the group was always interested in making acquisitions but would not do recklessly.

"We are not going to destroy (the company's) value by making the wrong deal," he said.

Shares in Thus fell 1.75p to 117.25p in yesterday's London dealing.