LONDON (Alliance News) - Coms PLC said Monday that it expects to swing to a full-year pretax profit in the financial year 2013-14.
The cloud-based telephony company expects to see a full-year pretax profit of around GBP450,000, revenue of around GBP14.0 million, and earnings before interest, tax, depreciation and amortisation of GBP750,000.
In the previous year Coms posted a pretax loss of GBP936,576 on revenue of GBP1.6 million.
In January, Coms said that it had expects full-year revenues ahead of management expectations due to both organic revenue growth and out performance from acquired subsidiaries.
"It has been a privileged to lead the Coms team and to turn this business around, and I am very much looking forward to sharing my vision for the future which will be outlined in detail in my CEO statement in the audited annual report & accounts," said Chief Executive Officer David Breith in a statement Monday.
Breith was appointed CEO of Coms in January 2013.
Coms said it expects to release its full-year results in May.
Shares in Coms were trading down 4.5% at 9.17 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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