LONDON (Alliance News) - Coms PLC on Monday said its results for the year to the end of January are set to outpace its expectations following good trading in its Redstone infrastructure and 'smart building' services unit.
Coms said revenue and operating profit at Redstone have been significantly ahead year-on-year and said the business has benefited from Coms' solely focusing on the unit, following the restructuring which saw its dispose of and close its other businesses.
"I am delighted to report in my first trading update as CEO that the operating business of the group is in good health following a difficult time earlier last year," said Mark Braund, Coms' chief executive.
"We now look forward to the coming financial year from a position of strength and with a view to restoring significant shareholder value through a combination of organic growth and strategic acquisitions," he added.
Coms shares were up 26% to 1.51 pence on the news, one of the best performers in the AIM All-Share early Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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