Telecoms services provider Pinnacle Telecom says that it is making underlying profits in the five months to February 2010.
Revenues more than doubled from £1.5m to £3.19m in the year to September 2009. The loss declined from £1.07m to £895,000. Pinnacle said that in September it made a modest monthly operating profit before non-cash costs and any contribution from associated companies. Net cash was £419,000 at the end of September 2009.
When Pinnacle acquired Solwise in January this year it also acquired Slipswitch, which has developed its own voice over IP platform Pinnacle is developing the Sipswitch technology so that customers can use their mobile phones to make international calls but be charged UK landline rates.
At 0.38p a share, up 0.035p on the day, Pinnacle is valued at £6.61m.
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