Correction to accounts and restoration of trading

RNS Number : 5361J

Coms PLC

13 June 2014

 



13 June 2013

Coms plc

("Coms", the "Company" or the "Group")

Correction to Audited Annual Accounts for the year ended 31 January 2014 and restoration of trading on AIM

Following consultation with its auditors, Coms plc (AIM:COMS) a leading provider of telecommunications and infrastructure has made a correction to the RNS dated 10 June 2014 in the financial highlights section of the accounts for the year ended 31 January 2014. The corrected report and accounts are now available on the Company's website at www.coms.com

There are two corrections to the document in the financial section which are:-

·      EBITDA changed to £827,348 and references to this number on pages 3, 5 and 13

·      EPS - basic 0.24p and EPS - diluted 0.22p and references to these numbers on pages 3 and 28.

All other figures remain unchanged including profit before tax of £1,241,455.

FINANCIAL HIGHLIGHTS
	2014	2013
	£	£
Continuing operations
Revenue	14,002,866	1,621,960
Gross profit	4,755,050	929,576
EBITDA/(LBITDA)	827,348	(797,421)
Profit/(loss) before taxation	1,241,455	(936,415)
Net cash balances	998,947	171,962
Consolidated net assets	15,990,714	2,070,880
Earnings per share per share - basic	0.24p	(0.40p)
Earnings per share per share - diluted	0.22p	(0.40p)

Dave Breith (CEO) states, "I apologise for this unforseen error and would like to state that the EBITDA number still represents a significant increase from the Company's announcement on 14 May 2014. It also represents a huge turnaround of the business from when I took over as CEO on 9 January 2013. The Company continues to trade strongly and the Board is encouraged by the order in-flow in the current year."

Trading of the ordinary shares of the Company on AIM will be restored at 7.30 am today.

Copies of the annual accounts will be posted to shareholders on 17 June 2014, together with a Notice of Annual General Meeting to be held at 10 a.m. on 11 July 2014 at Coms plc, Beacon House, Stokenchurch Business Park, Stokenchurch, Buckinghamshire. HP14 3FE

For further information, please contact:

Coms plc                                                              [phone]

David Breith (CEO)

Iain Ross (Chairman)

Charles Stanley Securities                                 [phone]

(Nominated Adviser and Broker)

Karri Vuori/Philip Davies

Notes to Editors

About Coms plc

Coms is a leading organisation in the provision of end-to-end communication, connectivity and business services:

Business infrastructure

Cloud based solutions

Connectivity

Creative marketing and media solutions

Integrated and hosted telephony

IT support

Mobile

Smart buildings

We put stakeholders at the heart of everything we do, and by innovating and offering other robust technologies our solutions are resilient and cost effective. For more information, please visit: www.coms.com

 

END

 

 

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