25 May 2012

Loss-making Coms plans Cloud re-launch

29/07/2011 Robert Tyerman

Internet telephony outfit Coms (COMS) is re-launching as a Cloud specialist after annual losses up 13 per cent to £635,000.The London-based company, run by entrepreneur and key shareholder Jason Drummond, increased turnover 8 per cent to £3.25 million in the year to January, as it restructured its team to exploit the opportunities created by the launch of Microsoft's Lync, a business telephony application for Microsoft Exchange, and the rise of Cloud.

AIM-quoted Coms, which ended its financial year with cash down from £150,000 to £62,510, launched its first Apple iPhone apps during 2010-11 and more recently brought out a new VOIP service enabling Apple iPad users to make and receive telephone calls over the internet. Drummond says the company will complete its repositioning as a Cloud telephony specialist in the autumn, with a re-launch of its websites and marketing drives.

Highlighted by Growth Company Investor at 1.9p last month, Coms shares, which have traded between 3.5p and 1.75p over the past year, now change hands at 2p, down 0.25p today, valuing the company at £1.7 million. They have speculative appeal for the risk-friendly.

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Tags: AIM market, Cloud, Jason Drummond, Microsoft

Sector: Software & Computer Services

Companies: Coms

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