AT Communications Group has announced preliminary results for the year to 31 December 2007 showing Group revenue up 63% to £88.4 m (2006: £54.1 m) with 11% underlying organic growth and Operating profit before amortisation, non-recurring expenses and share based payments increased by 43% to £7.7m (2006: £5.4m).
The company highlights that during the reporting period it has completed debt and equity refinancing of the Group with £6.8m of new equity finance raised and a new five year committed loan facility secured in January 2008. Injected £10.3m in the working capital of the business. Additionally their board strengthened with the appointment of Ian Crawley as Group Finance Director and Andrew Parsliffe as Commercial Director.
Commenting on results, Alex Tupman, Chief Executive, said: “We have achieved tremendous progress during 2007, which has transformed our business. We now have the structures, scale, financing and management in place to continue to grow our business successfully in 2008 and beyond. Contract wins both during the period and after with companies including De La Rue and Avaya reflect the success of our end-to-end capability and will underpin our future growth as we secure larger and higher margin business. We are very confident of future prospects and I look forward to updating shareholders with further news in due course.”