Major Contract Wins

RNS Number : 6766J

Coms PLC

19 July 2013

 

19 July 2013

Coms plc

("Coms" or the "Company")

Major Contract Wins

Coms plc. (AIM: COMS) In a trading update announced on 13^th May we announced that the Company's new in-direct sales (wholesale) division led by Tim Loveday had built a pipeline of sales prospects, representing a potential of just over £7m annualised revenue.

Today we are pleased to announce that the pipeline potential has grown to over £8m and with our supply chain now in place we can confirm that we have already signed and closed contracts worth £2.9m annualised revenue out of this pipeline with another £5.1 million in the current pipeline which our team can potentially convert.

Dave Breith (Coms CEO) states "I cannot emphasise enough how hard the team has worked over the past few months building all of the back end infrastructure from ground up as well as the support and supply chain for our enlarged product portfolio, which includes considerable automation within our AskMerlin platform to make this business truly scalable. "

Coms plc

David Breith (CEO)                                                                  [phone]

Grant Thornton UK LLP (Nominated Adviser)

Colin Aaronson / Jen Clarke                                                    [phone]

Simple Investments (Broker)

Andy Thacker / Nick Emerson                                                 [phone]

Newgate Threadneedle (PR)

Graham Herring                                                                      [phone]

Notes to Editors

Coms plc is listed on the London Stock Exchange (AIM market) and is a leading player in the provision of Hosted VoIP Telephony to UK businesses with over 10-years' experience in the telecoms sector. Unlike most VoIP providers, Coms does not rely on third party providers and we own and operate a UK based Carrier Class Telephony Platform.

 

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