LONDON, December 6, 2013 /PRNewswire/ --
An eventful year ends positively, and are ready for 2014
With seven acquisitions completed and a host of new connectivity and communication products launched, Coms plc has issued their trading update for the nine month period ending 31st October 2013. The business is pleased to confirm:
- 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 nine months trading result since 1 January 2013. With record order levels combined with healthy cash generation throughout the period which, together with the acquisitions we have made, positions Coms - and the business within it - well for a successful year and gives us confidence in continuing our growth into the next financial year. This year has been about integrating the businesses we have purchased, and with this transfer in place we can confidently offer more services to business and communities requiring connectivity and communications. We are looking forward to another demanding, yet fulfilling 2014."
Coms is part of Coms plc, which is listed on the London Stock Exchange (AIM market). Established in 2005, Coms is a true end-to-end provider of telecommunications and IT services to business and industry. From hosted VOiP telephony 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 http://www.coms.com
SOURCE Coms plc
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