Redstone secures 3.0m pounds of net new business
2nd Apr 2013 07:22
Network-based managed services and technology solutions provider, Redstone, has announced the renewal and expansion of a managed services agreement with a financial services organisation. In an update issued on Tuesday, the company reported that the contract is worth approximately £6.9m over a thre
Read moreRedstone scores contract with leading consulting firm
26th Feb 2013 10:36
Technology provider Redstone has secured a three-year infrastructure as a service contract with a leading consulting company. Redstone will provide its cloud based computing solutions to the undisclosed client in a deal worth about £0.55m. There is scope to increase in value of the contract within
Read moreRedstone agrees to buy IT firm Maxima
17th Sep 2012 07:57
Managed services provider Redstone has agreed to acquire IT business systems Maxima for approximately £9.9m or 28p per Maxima share. If the deal is approved, Redstone will seek to raise a gross £3m via a share offering at 1p per Redstone share. This represents a premium of 27.4 per cent to the clos
Read moreRedstone returns to stability
4th Jul 2012 09:23
Managed services provider Redstone impressed investors on Wednesday with its return to stability following a period of difficulty, as losses for the full year narrowed significantly. The operating loss for the 12 months to the end of March was £0.22m, versus a loss of £5.3m the year before, while
Read moreRedstone wins £10.2m contract
13th Oct 2011 08:06
Managed services provider Redstone has won a contract worth up to £10.2m to deliver a managed wide area computer network to a new customer. The maximum five year contract will cover an estimated 1,900 sites across the UK and Ireland. Full roll-out is expected to begin early next year upon comple
Read moreLondon open: International Power makes gains
11th Jul 2011 08:32
The Footsie opened up higher but fell into the red in early trading as two giants weighed up the effects of an Australian climate change proposal. International Power opened strongly to lead the risers after responding to the proposed climate change plan in Australia. Under the proposed plan to red
Read moreRedstone narrows losses
11th Jul 2011 07:26
Managed services provider Redstone said it almost halved full year pre-tax losses as it continues with its restructuring programme. Loss before taxation narrowed to £6.6m for the year ended 31 March 2011 from £11.1m a year earlier. Redstone reported adjusted EBITDA of £1.1m for the year compared to
Read moreRedstone's undisclosed client extends contract
27th Jun 2011 12:25
Managed services provider Redstone said an existing client has extended the contract for a further four years for an estimated value of up to £10m. The company will provide the customer, whose identity was not revealed due to competitive reasons, managed services, including the use of its own prop
Read moreRedstone gets hotel gig as Saga job ends
28th Mar 2011 12:15
Managed services provider Redstone has bagged a structured cabling deal with Prime Development just as it finishes installing a local area network (LAN) for Saga. It will fit structured cabling for back office functions and reliable network access at the Prime Knightsbridge hotel in London, due to
Read moreParagon Diamonds boss takes holding to 86.5%
10th Jan 2011 17:40
The chairman of Paragon Diamonds, Francesco 'Frank' Scolaro, has tightened his grip on the African gemstone group with the purchase of nearly £400,000 in shares. His Grandinex International Corporation took 1.29m shares at 30.47p a share taking Scolaro's total holding to about 123.4m shares, which
Read moreSmall caps round-up: CBG, GVC, Intandem...
17th Dec 2010 12:30
Insurance broker CBG warned this year's revenue is likely to be lower than market forecast and as result, adjusted profit before tax is expected to be significantly below current expectations. The market background for the insurance broking division remains highly competitive and margins remain und
Read moreFriday tips round-up: RPC, Rio Tinto, DS Smith...
17th Dec 2010 06:57
RPC Group has spent ten years wooing Denmark's Superfos Industries but has finally won the day after its rival agreed to a £205m takeover. Making soup containers for Waitrose and coffee capsules for Nespresso machines may have all the hallmarks of a defensive stock. But the Superfos deal has turned
Read moreRedstone sells security business
10th Dec 2010 12:19
Managed services provider Redstone has sold its security software and consultancy business to its management for a total of £1m. Redstone has received £100,000 on the signing of the deal and will get a further £400,000 when the sale is completed. The rest of the cash will come from realising the n
Read moreRedstone names Hallett CFO
13th Oct 2009 08:23
IT and telecoms group Redstone today confirmed chief financial officer Tim Perks has resigned. Commenting on his decision Perks said, "Now that the financial restructuring of the group is complete, I feel it is time to move on." Last month the heavily indebted group secured up to £6m in new fundin
Read moreSector movers: Redstone rescue fails to lift tech stocks
17th Sep 2009 12:12
Redstone, the heavily indebted IT and telecoms group, has secured up to £6m in new funding and renegotiated some of its debt facilities. The company's share price is up by 10% on the news , but overall, technology hardware & equipment is one of the worst performing sectors. It is dragged lower by
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