Last checked at 4 Dec 2012 07:00
04 December 2012
Pinnacle Technology Group plc
("Pinnacle" or the "Company")
Trading Statement
Pinnacle Technology Group plc, (AIM: PINN) the AIM listed provider of converged managed services, provides the following update on trading for the financial year ended 30 September 2012.
Pre-Close
The Board expects to report significant revenue growth for the full year ending 30th September 2012, compared to FY 2011. The Board also expects to report significantly improved Operating profit 1 performance for FY12, compared to FY11.
Group Trading Performance
Through our programme of targeted acquisitions, we have built an IT services business with a strong base of recurring revenues, operating in niche, high growth markets such as data, multi-site connectivity and IT security. Our large customer base of over 3,000 businesses across the UK, represents a significant platform for future growth and our focus is on further cross-sales of our enlarged product suite into this base.
Pinnacle's pipeline of prospects remains encouraging with growth coming from both our organic activities and our acquired businesses, with particularly encouraging sales pipeline progress for the Group's IT Security solutions. The Board is pleased to note that cross selling across all service lines and geographies is now being rolled out on a regional, UK-wide basis. As such the Board is confident that the Group's performance remains in line with its current expectations for the financial year as a whole.
Notice of Results
The Group expects to report Preliminary Results for the financial year ended 30 September 2012, on Monday, 18 February 2013.
1 Note: Operating profit is measured before amortisation of intangibles, exceptional acquisition and organisational restructure costs, share of results of associates and the embedded fair value adjustment in the convertible loan.
All Company announcements & news can be found on http://www.pinn.uk.com
For further information please contact: | |
Pinnacle Telecom Group plc | |
Alan J Bonner, Chief Executive | 0845 180 74 74 |
Zeus Capital Limited | |
Ross Andrews | 0161 831 15 12 |
Newgate Threadneedle | |
Caroline Evans-Jones/ Robyn McConnachie | 0207 653 98 50 |
Notes to editors
About Pinnacle
Pinnacle Technology Group plc (AIM: PINN) focuses on the business market across the UK. Driven by leveraging organic opportunities as well as through targeted acquisitions. We provide a wide range of converged managed solutions including Managed Support Services, Unified Communications and Collaboration, Communications and Mobility, Software as a Service (SaaS) and Infrastructure services.
Broad experience, innovation and impartial expertise puts Pinnacle in best place to design and deliver cost effective new technology solutions for its customers. Pinnacle work with some of the most prestigious organisations in the UK, who rely on us to deliver robust technical solutions that deliver value.
The Company has very strong capability in advanced IT Security and is the UK and Ireland McAfee Partner of the Year, the EMEA CA Partner of the Year and a Platinum Partner for Sophos.
Pinnacle is a fully licensed Public Telephone Operator, has its own telephone network and interconnects with BT, Cable and Wireless and Virgin Media. It has its own hosted voice (VoIP) platforms and engineers and owns Scotland's oldest ISP and a founder member of Nominet, operating from its data centres in Glasgow, London and Brighton.
The Group has grown its annual revenues by 740% since Pinnacle's involvement on the Alternative Investment Market in 2007 and aims to build a £50m business, by leveraging organic opportunities as well as through targeted acquisitions. We create solutions that join together a company's three core networks (IT network, telephony network and mobile network). Our strategy of cross-selling the five elements of our converged managed services offering is now delivering positive results.