Redstone Revenues up 56%

Redstone’s unaudited preliminary results for the 12 months ended 31 March 2007 show revenues up by 56% to £113.0m and gross profit up by 57% to £41.0m.

In the year reported Redstone acquired Comunica, Symphony Telecom, IDN and the Tolerant group of companies

Martin Balaam, Chief Executive Officer, Redstone, commented, “This has been another very good year for Redstone, continuing the transformation of the business that began last year. I am delighted at the progress the Group has made, particularly with it now being able to offer a full “across the board” IT and Communications Solutions which include the newly acquired mobile offering, and having the capacity to win and deliver multi-million pound, multi-year infrastructure projects.

“In 2007, the Board wish to see growth within the business. With the corporate activity of the last financial year completed Redstone has been transformed into a substantial mid-market ICT player which is well positioned to take advantage of the convergence taking place in the sector. Industry convergence is expected to continue and the Board believe that the Company is well placed for this. Redstone has a strong platform from which to grow and increasingly the Company’s presence is being felt by its larger peers.”