Trading Update and Recent Contract Wins

RNS Number : 0644U

Coms PLC

13 October 2014

 



13 October 2014                                                                     

Coms plc

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

Trading Update and Recent Contract Wins

The Board of Coms today provides the following update on trading ahead of its interim results announcement for the six months ended 31 July 2014, which will be released by the end October.

The encouraging trading stated in the update provided at the time of the Company's Annual General Meeting, on 11 July 2014, has continued and the Board today reiterates its confidence that the Group will meet market expectations for the current financial year.

Since the update provided by the Company on 7 May 2014, new contracts totalling £7million have been secured across the Group's Infrastructure and ICT Management, Wholesale Telecoms and Mobile Telecoms operations during the course of the second quarter of its financial year. These include:

Infrastructure and ICT Management

o  £630,000 of project works for a number of leading financial services clients, with a combination of infrastructure project work and deployment of Redstone's OneSpace service, which allows organisations to better manage the occupancy of their buildings, improving efficiency and potentially making significant cost savings in terms of their facility expenditure;

o  £550,000 of infrastructure projects from a global financial services company, as it looks to refresh its network infrastructure in the UK;

o  £350,000 of infrastructure work in the UK, with a multinational organisation;

o  £320,000 of ICT and infrastructure projects with professional services companies including a leading international law firm;

o  £160,000 for a major sporting project;

o  £130,000 of data centre fit out with a leading global retail giant;

o  £130,000 of infrastructure projects with a group of public sector clients.

Wholesale Telecoms

o  Coms Wholesale has secured five new contracts with five different telecommunication resellers, all of which are in total worth £894,000 over a twelve month period.

Mobile Telecoms

o  A mobile contract worth £3m over five years with one of the UK's largest recruitment organisations. Coms Mobile will provide a mobile product targeting the short and medium term contracting sector, offering reasonably priced international calls and priority access to contracting opportunities;

o  A mobile contract worth £500,000, over five years, to provide an affordable consumer mobile product aimed at consumers and SMEs, offering simple contract mobile solutions.

Dave Breith, CEO, commented:

"Coms performed well in the first half of the financial year and the Board remains confident that the Group will meet market expectations for the full year. Our restructuring efforts, which are nearing conclusion, are delivering results, while trading across all divisions continues to improve as we anticipated.

"I am delighted with the contract wins for our Mobile, Wholesale and Redstone subsidiaries that we have announced today. It is encouraging to see we are gaining traction with a diverse range of clients, delivering a wide range of services within telecoms, infrastructure, ICT and our new OneSpace platform securing contracts with global banks, law firms and major retailers, demonstrating the quality of the Group's offering and the ongoing speed of our expansion."

ENDS

For further information, please contact:

Coms plc	[phone]
David Breith (CEO)
Frank Beechinor (Chairman)
Charles Stanley Securities	[phone]
(Nominated Adviser and Broker)
Karri Vuori/Philip Davies
Blytheweigh	[phone]
(Financial Public Relations)
Halimah Hussain / Alex Shilov / Paul Weigh

Notes to Editors

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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