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ASX-listed Web hosting and Internet services group Melbourne IT (motto: “Trusted for online success”) has revealed plans to sell off some of the company’s assets after experiencing “disappointing trading results”.
In a statement to the ASX, Melbourne IT said full-year 2012 earnings were likely to be down about 10 percent on 2011. On top of that, the company said, “a number of new opportunities that had been expected to come through in the second half of 2012 are delayed and are now not expected to materialise until 2013.”
Aggressive competitor activity on pricing had been contributing to declining results in its SMB e-business solutions segment.
To help things along, the board “proposes to hold further discussions with a number of parties, primarily large offshore organisations, who have previously indicated interest in potentially acquiring one or more divisions of our company.”
