27th Feb 2014 12:29
LONDON (Alliance News) - Coms PLC Thursday said it had won a further GBP1.73 million in new contracts in recent weeks, building on the GBP715,000 of new contract wins it announced earlier in the month.
The latest contract wins include GBP696,000 worth of deals with a number of new channel partners for delivered hosted lines and calls, a GBP499,000 deal to supply a Cisco converged network to a large commercial property company, a GBP111,000 deal for recent acquisition CloudXL and a deal worth over GBP50,000 for its media unit.
It expects the new contracts to contribute towards the company's revenue targets for the current financial year to end-January 2015.
On February 10, the Telecoms and IT services company said it had won a more than GBP715,000 of new contracts, including cabling work at Kings Cross in London and a contract renewal in the energy sector.
Earlier this week, it said that it expects to swing to a pretax profit for the financial year that just ended. It said it expects to report a pretax profit of about GBP450,000 for the year to end-January, 2014, compared with a GBP936,576 loss a year earlier, as revenues grew to about GBP14.0 million, from GBP1.6 million.
Its growth has been driven by acquisitions. It bought the IT infrastructure, data centre and smart building technology business of Redstone PLC back in November for up to GBP9.5 million, and then formed a new media and marketing subsidiary, Coms Media Ltd, after it acquired two new companies in December for GBP342,000 in cash and shares.
Coms shares were up 3% at 8.26 pence Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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