7 May 2014 07:00
7 May 2014
Coms plc
("Coms" or the "Company")
Coms secures £14.2m of new business
Coms plc (AIM: COMS) is delighted to announce the signing of a single new contract worth £9.3m plus a further £4.9m of contract wins across its diverse business.
· The £9.3m a new contract with an existing customer with a major brand and will be spread over the next five years. More details will be released in due course.
· Redstone has been awarded three new contracts including a £1.5m contract to provide onsite technical infrastructure and support to a global investment bank; a Smart Building contract worth £800,000 with a leading retail agent and structured cabling contracts for two widely known, highly recognisable brands in overseas offices worth £1.5m
· In addition during the last month a further £400,000 of structured cabling contracts have been won as have contracts worth £450,000 as part of Coms' wholesale base transfer with two telecommunications resellers further securing market share gains in the Wholesale channel.
· The remaining new business announced today is through Coms Media, the Company's animation and visual effects arm and through CloudXL, which Coms acquired in February 2014.
Dave Breith, CEO, Coms plc commented: "I am delighted that all our business lines are contributing to the growth of the Company and we are continuing to win contracts both large and small. This demonstrates that we can achieve our ambitious revenue and profit targets over the coming years and build a substantial and sustainable business in the long term."
For further information, please contact:
Coms plc +44 (0) 207 148 3000
David Breith (CEO)
Iain Ross (Chairman)
Charles Stanley Securities +44 (0) 207 149 6000
(Nominated Adviser and Broker)
Karri Vuori/Philip Davies
Notes to Editors
About Coms plc
Coms is a leading organisation in the provision of end-to-end communication, connectivity and business services:
Business infrastructure
Cloud based solutions
Connectivity
Creative marketing and media solutions
Integrated and hosted telephony
IT support
Mobile
Smart buildings
We put stakeholders at the heart of everything we do, and by innovating and offering other robust technologies our solutions are resilient and cost effective. For more information, please visit: www.coms.com