Coms expects full-year profits to be previous guidance

14th May 2014 13:19

Coms, which provides 'Voice over Internet Protocol' (VoIP) telephony solutions to UK businesses, has said that annual profits will be well ahead of previous estimates.The AIM-listed group had said in February that it expected earnings before interest, tax, depreciation and amortisation (EBITDA) to total around £0.75m in the year ended January 31st, while profit before tax (PBT) was guided to as £0.45m."This was based on information at hand at that time and as then indicated, was subject to audit review and sign off," Coms said on Wednesday.However, as the audit process nears completion, the board said it is now apparent that EBITDA and PBT will both be "significantly greater" than initial estimates.The stock was 0.8% higher at 6.25p by 13:35.BC