News blog
Coms
- BY: Andrew Hore |
- POSTED: 06/07/2012 |
Telephony services provider Coms reported lower revenues in the year to January 2012 but gross profit edged ahead.
Revenues fell from £3.52m to £2.97m but gross profit was 3% higher at £905,000. There was a 45% increase in VoIP revenues but equipment sales were lower. Admin costs were flat and the loss reduced from £635,000 to £594,000. Net cash was £89,000 at the end of January 2012.
MXC Capital took a 23.3% stake at 0.3p a share in December 2011. That raised £300,000. Coms has been focused on small business customers but it has set up a new subsidiary with the help of MXC, which will sell to larger businesses and the government. This has already won five contracts.
At 0.51p a share, Coms is valued at £1.17m. In May, £350,000 was raised from a placing at 0.8p a share.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2012_33.pdf
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