2 August 2010 – final results
Although the recent acquisition may transform the business making these results less significant, it is only fair that we comment on them. Revenue on continuing activities has fallen sharply as expected to £15.6m (2009: £28.8m), whilst the grouo made an operating loss of £0.3m before exceptionals (2009: profit £2.1m). The dividend was maintained at 1p per share and net cash at the year end was £16.2m (2009: £16.2m). Of more importance than these results is the latest acquisition which progresses the group’s strategy of creating a high growth wireless telecoms business through organic growth and acquisition. The shares have begun to move up but remain a BUY.