22nd May 2006 08:00
Redstone PLC22 May 2006 22 May 2006 Redstone Plc ("the Company") Admission to AiM Redstone (LSE: RED.L) announces that its ordinary shares of 1p each have todaybeen admitted to trading on AiM. As previously announced the Board believes thatthis move will enable the Company to simplify its administration requirementsand to execute acquisition and other development opportunities more effectivelyin the future. On 9 February the Company provided a trading update and indicated that theCompany had achieved an EBITDA profit in the third quarter to 31 December 2005.The Board is pleased to confirm that this was also the case in the fourthquarter to 31 March 2006 and that the Company was also cash flow positive duringthis fourth quarter. It is expected that the preliminary results for the yearended 31 March 2006 will be released early in June. The Board has devoted significant resources to the restructuring of thebusiness, which is now complete and believes that the benefits of thisrestructuring are being felt in the Group's current trading and recentsignificant contract wins. Accordingly, the Board is optimistic about theGroup's prospects, with the Company now seeking to drive shareholder returnsthrough both organic and acquisitive growth in this consolidating market place. ENQUIRIES: Redstone plc Tel. +44 (0) 845 200 2200Martin Balaam, Chief ExecutiveTim Perks, Chief Financial Officer ICIS Limited Tel. +44 (0) 20 7651 8688Tom MoriartyPaul Youens This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CTP.L