Coms announces major contract win

26th Nov 2013 10:36

Coms's shares climbed after the telecommunications and information technology specialist announced a "significant" contract win.The group has secured a contract to supply a provider with up to 50,000 mobile SIM cards through Coms's newly built mobile network.The SIM cards are expected to be rolled out over 24 months with the first order for 10,000 cards already received and due to be delivered in early 2014.The contract will generate an estimated revenue of about £20 per user per month.Coms will also supply the customer with VoIP telephony, lines and broadband and other data connectivity. "Once the full roll out over two years of the SIM cards has been achieved, we estimate that the potential revenues from the supply of SIM cards only will be significant under the contract," said Coms Chief Executive Officer, Dave Breith."The contract also provides Coms with further opportunities to upsell its other products and services, thereby providing significant additional income."Shares were up 8.86% to 4.30p at 10:47 on Tuesday.RD