Coms adjusted earnings up21 Oct 2015 23:35
By StockMarketWire | Wed, 21st October 2015 - 07:45
Coms - a leading provider of infrastructure and smart building solutions - saw revenues from continuing operations rise to £21.3m in the six months to the end of July - up 37% on last time.
Adjusted EBITDA rose by 40% to £0.7m while adjusted EBITDA pre central costs increased by 57% to £1.1m.
Coms said that results of continuing operations reflect only the performance of the Redstone, Darkside Studios businesses and the central plc overhead. Profit after tax from continuing operations was £10,000 (2014 H1: £0.2m).
Chairman Frank Beechinor said: "The past six months have been a testing period, where changes at Board level have resulted in the Group reviewing its strategy, culminating in the disposal of our loss making Telephony Services division followed by an injection of fresh capital by way of new equity. I'm encouraged by the fact that during this period of change the continuing operations have performed well."