Trading Update

RNS Number : 4716U

Coms PLC

03 December 2013

 



03 December 2013

Coms plc

("Coms" or the "Company")

Trading Update

Coms plc (AIM: COMS) is pleased to issue the following trading update for the 9 Month period ending October 2013. The board is pleased to report and announce:

·     That trading in the 9 month period to October 2013 has been strong and revenue and EBITDA are in line with management expectations. The order book for the remainder of the year is promising and we are confident of our prospects for the full year.

·     That all acquisitions, including Coms' newly acquired subsidiary Communica Holdings Ltd. ("Redstone"), made during 2013 are expected to be fully integrated by the year-end.

·     Further contract wins with Taunton & Somerset NHS Trust, London Borough of Barnet, University of Kent, North Wales Hospital, Surrey and Sussex Healthcare, Harrogate District Foundation Trust, West Midlands NHS Trust and Gateshead NHS Foundation Trust. These, and other wholesale contract wins, further demonstrate the Company's ability to achieve organic growth.

·     That the new Headquarters in Stokenchurch, Buckinghamshire and "centre of excellence" will be operational within the next 10 days. Approximately 50 staff will move immediately into these new offices, which can accommodate circa 200 people with the additional capacity being used for the anticipated increased activity during 2014. Accordingly before the year-end the Company will close down its London, Cannon Street offices and move the London based staff into Redstone's offices in Old Broad Street in the City.

Dave Breith, CEO of Coms, stated: "I am extremely pleased with our 9 months trading result since my appointment as CEO at the start of the year. We have enjoyed record order levels combined with healthy cash generation throughout the period which, together with the acquisitions we have made, positions the Company well for a successful year and gives us confidence in continuing our growth into the next financial year. The Group has executed all activity undertaken on time, to plan and within budget. This has been a transformational period for our business and I am looking forward to updating our shareholders on our last quarter's trading performance and publishing our full year Group accounts following our year end on 31 January 2014."

For further information, please contact:

Coms plc

David Breith (CEO)                                                                                        [phone]

Iain Ross (Chairman)          

Charles Stanley Securities                                                                          [phone]

(Nominated Adviser and Joint Broker)

Karri Vuori / Philip Davies                                                                       

SI Capital Limited                                                                                          [phone]

(Joint Broker)

Andy Thacker / Nick Emerson                                                    

Newgate Threadneedle                                                                               [phone]

(PR)

Robyn McConnachie

Notes to Editors

Established in 2005, Coms is an end-to-end provider of telecommunications and IT services to business and industry. From hosted VoIP telephony to smart buildings to broadband to business infrastructure, Coms offers an unrivalled service built on innovation, passion and dedication. Unlike most VoIP providers, Coms does not rely on third party providers and we own and operate a UK based Carrier Class telephony platform. For more information, please visit www.coms.com

 

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