News blog
Spiritel
- BY: Andrew Hore |
- POSTED: 19/01/2009 |
Business telecoms services provider Spiritel’s interim revenues and underlying EBITDA were even better than expected.
Revenues grew from £6.84m to £11.1m in the six months to October 2007, while underlying EBITDA improved from £235,000 to £870,000. Organic sales growth was 30%.
The reported pre-tax loss reduced from £2.34m to £1.72m. That includes £2.1m of non-cash charges. More importantly the interim cash outflow decreased from £1.59m to £644,000.
Net debt was £13.5m at the end of October 2007.
Shares in Spiritel rose 0.1p to 0.95p each, which values the company at £5.61m. Full profits of £2m are forecast. The shares are trading on less than three times prospective earnings.
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