13 Jun 2014 07:00
13 June 2013
Coms plc
("Coms", the "Company" or the "Group")
Correction to Audited Annual Accounts for the year ended 31 January 2014 and restoration of trading on AIM
Following consultation with its auditors, Coms plc (AIM:COMS) a leading provider of telecommunications and infrastructure has made a correction to the RNS dated 10 June 2014 in the financial highlights section of the accounts for the year ended 31 January 2014. The corrected report and accounts are now available on the Company's website at www.coms.com
There are two corrections to the document in the financial section which are:-
· EBITDA changed to £827,348 and references to this number on pages 3, 5 and 13
· EPS - basic 0.24p and EPS - diluted 0.22p and references to these numbers on pages 3 and 28.
All other figures remain unchanged including profit before tax of £1,241,455.
FINANCIAL HIGHLIGHTS | ||
2014 | 2013 | |
£ | £ | |
Continuing operations | ||
Revenue | 14,002,866 | 1,621,960 |
Gross profit | 4,755,050 | 929,576 |
EBITDA/(LBITDA) | 827,348 | (797,421) |
Profit/(loss) before taxation | 1,241,455 | (936,415) |
Net cash balances | 998,947 | 171,962 |
Consolidated net assets | 15,990,714 | 2,070,880 |
Earnings per share per share - basic | 0.24p | (0.40p) |
Earnings per share per share - diluted | 0.22p | (0.40p) |
Dave Breith (CEO) states, "I apologise for this unforseen error and would like to state that the EBITDA number still represents a significant increase from the Company's announcement on 14 May 2014. It also represents a huge turnaround of the business from when I took over as CEO on 9 January 2013. The Company continues to trade strongly and the Board is encouraged by the order in-flow in the current year."
Trading of the ordinary shares of the Company on AIM will be restored at 7.30 am today.
Copies of the annual accounts will be posted to shareholders on 17 June 2014, together with a Notice of Annual General Meeting to be held at 10 a.m. on 11 July 2014 at Coms plc, Beacon House, Stokenchurch Business Park, Stokenchurch, Buckinghamshire. HP14 3FE
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