3rd Oct 2006 07:00
Redstone PLC03 October 2006 Redstone plc ("Redstone" or "the Group") Trading update 3rd October 2006 - Redstone plc, a leading provider of IT & Communicationssolutions in the UK and Ireland, today provides the following update followingthe close of the six month trading period ended 30 September 2006. The Directors are pleased to report that trading has progressed well in thefirst half of the financial year and in line with their expectations. During theperiod there has been strong growth in the business through cost cutting, marginimprovement and the contributions from Symphony Telecom Holdings plc and theTolerant Group of Companies, which were acquired in July 2006. These twoacquisitions are key milestones in Redstone's growth strategy and the Directorsare pleased to announce that the integration of these businesses into the Groupand the identification of cost savings, synergies and cross-sellingopportunities are progressing to plan. With the rapid convergence of IT & Communications technologies, Redstone isuniquely placed to deliver a comprehensive set of IT & Communications solutionsand services to commercial and public sector organisations. The actions takenduring this period have been with a view to achieving this goal. They includethe addition of a fifth operating division, Redstone Mobile, to complete theGroup's skill-set, improving capacity utilisation of the Telecoms business andestablishing inter-divisional account management processes to encourage greatercross-selling. The Directors remain optimistic about the Group's future prospects. Redstone hasdeveloped a strong platform for its future growth and has continued to be cashgenerative over the period. Redstone is in a much better position than it was ayear ago to take advantage of a developing and consolidating market place bygrowing the business both organically and by appropriate acquisitions. TheDirectors look to the future with confidence and expect a successful outcome forthe year. The Group is expecting to announce its interim results for the period ended 30September 2006 towards the end of November 2006, when it will provide furtherdetail on the developments in the period and its financial results. ENQUIRIES:Redstone plc Tel. +44 (0)845 200 2200Martin Balaam, Chief Executive OfficerTim Perks, Chief Financial Officer ICIS Limited Tel. +44 (0)20 7651 8688Tom Moriarty or +44 (0)7769 937 626 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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