PINN16 Jul 2015 08:55
CHAIRMAN'S STATEMENT
These results reflect the work- in-progress status of the Pinnacle Technology turnaround, as the various measures put in place to return the business to profitable revenue growth, reduce costs and sharpen the focus of the business take effect. The Board continues to be focussed on positioning the company to become EBITDA positive and recognises that this will take some time.
However, given the progress that has been made, as detailed below and as outlined in the circular to shareholders dated 28th April 2015, the Board is now of the view that the time is right to consider reviewing acquisition opportunities that will take advantage of the underlying capabilities of the Group, as well as the highly fragmented and regionalised market in which the Group operates
CEO has clearly stated that acquisitions are being evaluated as of June this year, they were being evaluated before June but this statement is actually from the interims so they will be much further down the road as of now.