Redstone Mobile reports 34% rise in revenues

Redstone Mobile reports 34% rise in revenues

Redstone Mobile today reported a 34% growth in sales from £26m in 2007 to £34.9m this year.

The Ipswich-based company said the growth came predominately from the indirect dealer distribution channel.

Redstone Mobile which was acquired as part of the Symphony Group operates as a service provider and distributor of mobile telephony. It has strategic relationships with 02 and Vodafone.

The Redstone Group as a whole reported revenues up 78% to £200.7m with an operating profit of £3.2m compared with a lost of £400,000 in 2007.

Martin Balaam, Redstone CEO said: ‘We are now seeing the benefits of the acquisitions emerging, with cross-selling initiatives gaining momentum and the increased capability and scale of Redstone enabling the Group to secure multi-million pound, multi-year projects.

‘The board is confident in the group's ability to deliver its large scale contracts, progress its cross-selling and other sales initiatives and further develop the business both organically and acquisitively in order to increase shareholder value.’

Written by Mobile Today
Mobile Today


Please wait...

Please write code to prove you're human