Coms has secured another set of large contracts worth £14.2 million across its business. Coms has been on a meteoric rise since CEO Dave Breith took over about 18 months ago which has seen its share price increase dramatically.
£9.3m is from one 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 GBP1.5m contract to provide onsite technical infrastructure and support to a global investment bank; a Smart Building contract worth GBP800,000 with a retail agent and structured cabling contracts for two widely known, highly recognisable brands in overseas offices worth GBP1.5m.
In addition during the last month a further GBP400,000 of structured cabling contracts have been won as have contracts worth GBP450,000 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.”