Business
Half Yearly Report Ending Mar
Half Yearly Report Ending Mar.
About this update from Cloudcoco Group Plc
[{"type":"text","content":"\n RNS Number : 1680O Pinnacle Telecom Group PLC 24 June 2010 \n \n\nPinnacle Telecom Group plc (\"Pinnacle\" or the \"Company\")\nInterim Results for the six months ended 31 March 2010\n \nMaiden operating profit and positive EBITDA achieved in half-year\n \nPinnacle Telecom Group plc (AIM: PINN), the value added solutions based provider of IP focused unified communications to the SME market, today announces its unaudited interim results for the six months ended 31 March 2010. \n \nKey points: \n \n· Positive EBITDA of £67,966 in H1 10 compared to an EBITDA loss of £378,279 in H1 09.\n \n· Maiden operating profit of £40,841 in H1 10 compared to an operating loss of £413,695 in H1 09.\n \n· Turnover increased 288% to £3,101,747 in H1 10 compared with £1,076,944 in H1 09. 94% of turnover in H1 10 comes from recurring revenues (H1 09: 86%).\n \n· The overall gross profit for H1 10 increased 322% to £1,042,338 (H1 09: £324,179) representing a gross profit to sales percentage of 33.6% (H1 09: 30.1%).\n \n· All share acquisition of Solwise Telephony Limited and its wholly owned subsidiary Sipswitch Limited completed on 13 January 2010 for an initial consideration of £180,957 plus the assumption of debt of £23,958. This acquisition brings additional proprietary VoIP capability and strengthens the Group's data solutions capabilities.\n \nDefinitions:\n \n1. EBITDA - Earnings before interest, taxation, depreciation and amortisation\n2. Maiden operating profit - is before amortisation of intangibles, exceptional costs and the share of profit from an associated company\n3. H1 10 - The half-year ended 31 March 2010\n4. H1 09 - The half-year ended 31 March 2009\n \n \nCommenting on the results, Alan J Bonner the Pinnacle CEO stated: \n \n\"The first half-year has achieved a milestone in the history of the Group. We have successfully continued to implement our strategy to seek out well-priced and timely acquisitions, which are capable of adding value to the Group, with particular emphasis in the deployment of next generation Internet Protocol (\"IP\") based technologies. As a result, we have delivered all...