SpiriTel Announce Strong Preliminary Results for Year End

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Telecoms firm SpiriTel has announced a strong set of figures for the year ending 30 April 2009. Revenue and GP were up 18% and 19% respectively and most importantly, underlying EBITDA was up 61% to £1.5m. At the same time the company reported £7m cross sales secured during the period – most on long term contracts.

The company said that all this was achieved despite a hostile economic environment with an almost very limited capital expenditure from customers, and an ongoing decline in performance of their wholesale voice operations.

Commenting on the results, Chairman, Lord St. John of Bletso said: “I am pleased to report on a further year of growth and development for SpiriTel plc. The Company has made significant progress despite an increasingly tough operating environment which has seen several competitors fall by the wayside. As a fully integrated business communications provider delivering fixed, mobile, data and networking services to a substantial customer base the Group is very well placed to progress its chosen strategy of ‘acquire, integrate, grow’ to deliver increased shareholder value.”

Chief Executive, Alastair Mills added: “We operate in a dynamic sector and the Board believes that we now stand at a particularly exciting point in the Company’s development. We have demonstrated our ability to enhance earnings through acquisitions, followed up by significant cross-selling successes from our range of converged products and services into both new and existing customer bases. The foundations are in place to deliver ongoing value to shareholders and I look forward to the coming year with confidence.”

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