BNS Announce Results and Intention to De-List.

Nort East telecoms group BNS has announced a robust set of interim results that show a strong improvement in performance in challenging market conditions.

The firm has seen its billings income grow 14 per cent to £19.2m for the six months to January 31st 2009. Also cash generation up 24% to £1.5m and banking facilities being secured for a further 12 months.

BNS chief executive, Garry Moat, said: “Our focus on securing a long-term customer base has resulted in a 25 per cent drop in our debt during the first half of the current financial year.

BNS also announce the intention to de-list from the Alternative Investment Market (AIM).

“The Board believes that it is in the best interests of the company and its shareholders to de-list from the AIM. The lack of liquidity in our shares and ongoing costs associated with the AIM Quotation outweigh the benefits that would be derived from its continuation.

“Our market share is growing and we believe it will continue to do so, as our products address the growing demand from businesses to reduce costs and increase efficiencies.

“We remain well positioned, despite the current economic conditions, to continue to produce good cash generative growth.”