RED.L Share News (RED)

Redstone Losses Widen, But Margins In Remaining Business Rise

Redstone CFO to resign following successful demerger

The Chief Financial Officer (CFO) of AIM-listed infrastructure and support services provider Redstone, has given notice of his resignation following the completion of the company's demerger. Peter Hallett has been with the business for over four years during which time he completed the restructurin

Redstone secures 3.0m pounds of net new business

Network-based managed services and technology solutions provider, Redstone, has announced the renewal and expansion of a managed services agreement with a financial services organisation. In an update issued on Tuesday, the company reported that the contract is worth approximately £6.9m over a thre

Redstone scores contract with leading consulting firm

Technology provider Redstone has secured a three-year infrastructure as a service contract with a leading consulting company. Redstone will provide its cloud based computing solutions to the undisclosed client in a deal worth about £0.55m. There is scope to increase in value of the contract within

Redstone agrees to buy IT firm Maxima

Managed services provider Redstone has agreed to acquire IT business systems Maxima for approximately £9.9m or 28p per Maxima share. If the deal is approved, Redstone will seek to raise a gross £3m via a share offering at 1p per Redstone share. This represents a premium of 27.4 per cent to the clos

Redstone returns to stability

Managed services provider Redstone impressed investors on Wednesday with its return to stability following a period of difficulty, as losses for the full year narrowed significantly. The operating loss for the 12 months to the end of March was £0.22m, versus a loss of £5.3m the year before, while

Redstone wins £10.2m contract

Managed services provider Redstone has won a contract worth up to £10.2m to deliver a managed wide area computer network to a new customer. The maximum five year contract will cover an estimated 1,900 sites across the UK and Ireland. Full roll-out is expected to begin early next year upon comple

London open: International Power makes gains

The Footsie opened up higher but fell into the red in early trading as two giants weighed up the effects of an Australian climate change proposal. International Power opened strongly to lead the risers after responding to the proposed climate change plan in Australia. Under the proposed plan to red

Redstone narrows losses

Managed services provider Redstone said it almost halved full year pre-tax losses as it continues with its restructuring programme. Loss before taxation narrowed to £6.6m for the year ended 31 March 2011 from £11.1m a year earlier. Redstone reported adjusted EBITDA of £1.1m for the year compared to

Redstone's undisclosed client extends contract

Managed services provider Redstone said an existing client has extended the contract for a further four years for an estimated value of up to £10m. The company will provide the customer, whose identity was not revealed due to competitive reasons, managed services, including the use of its own prop

Redstone gets hotel gig as Saga job ends

Managed services provider Redstone has bagged a structured cabling deal with Prime Development just as it finishes installing a local area network (LAN) for Saga. It will fit structured cabling for back office functions and reliable network access at the Prime Knightsbridge hotel in London, due to

Paragon Diamonds boss takes holding to 86.5%

The chairman of Paragon Diamonds, Francesco 'Frank' Scolaro, has tightened his grip on the African gemstone group with the purchase of nearly £400,000 in shares. His Grandinex International Corporation took 1.29m shares at 30.47p a share taking Scolaro's total holding to about 123.4m shares, which

Small caps round-up: CBG, GVC, Intandem...

Insurance broker CBG warned this year's revenue is likely to be lower than market forecast and as result, adjusted profit before tax is expected to be significantly below current expectations. The market background for the insurance broking division remains highly competitive and margins remain und

Friday tips round-up: RPC, Rio Tinto, DS Smith...

RPC Group has spent ten years wooing Denmark's Superfos Industries but has finally won the day after its rival agreed to a £205m takeover. Making soup containers for Waitrose and coffee capsules for Nespresso machines may have all the hallmarks of a defensive stock. But the Superfos deal has turned

Redstone sells security business

Managed services provider Redstone has sold its security software and consultancy business to its management for a total of £1m. Redstone has received £100,000 on the signing of the deal and will get a further £400,000 when the sale is completed. The rest of the cash will come from realising the n