They are now ebitda POSITIVE. Adding new customers. Recurring and renewable revenues increased 88%, that will continue imo.Added tesco mobile! No funding needed for 2015 should see this climb as news releases come out.
haha got to laugh at some posters on here trying to give gloom on here, read the results properly they are making decent progress and turnaround is positive indeed. cost of sales continue to be reduced and this is a tidy profitbale business going forward, but not we have whole new dynamic for 2015 with the massive 02 deal to be announced anyday now here, those in the know, know this is the elephant deal that will transform PINN here along with other deals for 2015. Tiny market cap here also DYOR here and you will see 2015 could be a massive year for PINN.
HSBC appear happy to give then an enhanced overdraft facility so must be comfortable with the accounts.
"The Statement of Financial Position at 30 September 2014 shows a positive cash available balance of £173k at year end. In addition to this, the Group had overdraft facilities available to it of £80k from HSBC Bank Plc. An existing overdraft of £50,000 from the Bank of Scotland was repaid in full on 15th September and the facility closed."
All in all a good set of results, Total assets 2,901,947 million, Gross profit: £2.7m for the year to 30 September 2014 (2013: £3.3m) and also we now know that they have cash as supposed to some lies on here earlier so no imminent fund raise. What is impressive is the cost of sales numbers, play close attention this is where the turnover is starting already here, cost of sales (5,738,427) 2014 (6,882,004) 2013 - thats a serious reduction and has in turn contributed to the improvement in EBITDA. 2015 was always going to be the year for PINN and nothing has changed, read the last RNS, they are about to announce transformational company making news with a 'multi year exclusive deal with 02 here for all their services' go to the 02 SMS site for what this deal will cover and see for yourself the major upside here http://www.o2.co.uk/business/products-and-services Well done BOD and 2015 will be company making, the turnaround has begun and glad they have got rid of non profitable activities also, another great positive from todays results. imo
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