|
|
|
08 Sep 2009
VAR Redstone has slashed its full-year adjusted profit forecast and revealed it is in talks regarding a loan facility held by its Symphony Telecom subsidiary.
The firm, which recently sold its telecoms unit to Daisy Group for £17m, now expects adjusted EBITDA for the year ended 31 March 2009 to be between £5m to £6m.
The revision, which is significantly below its previous forecast of £7.5m to £8m, follows a review of its annual accounts with its auditors.
Further reading
In a stock exchange announcement this morning, Redstone said it is also exploring ways to reduce its debt further, including asset disposals, cost reduction and raising new funds.
As part of that, Redstone is in talks with Eckho Technologies regarding the loan facility it has with its subsidiary Symphony Telecom (Eckho was Symphony’s former owner). Some £1m of the outstanding £2.7m loan was due to be paid on 28 August and although Redstone opened the discussions before that date, a successful outcome is yet to be reached.
Related articles
In this video find out about the fast-growing Chinese vendor's plans for market domination and how the channel is its route of choice
Find out what gifts Acer has in store for partners for 2012 in this exclusive roundup of its recent conference
CRN's premier networking event is back on 17 May at the Ricoh Arena
Date: Thu 17 May 2012
Channel fighters preparing to square up once more on 24 May
Date: Thu 24 May 2012
The proliferation of endpoint devices within the enterprise has highlighted the shortcomings of one of the traditional approaches to data security
This Forrester report compares the costs and benefits of legacy email and productivity software with Google Apps
Dave discovers that rozzers are seemingly living in the technology dark ages
Mark Needham, founder of distributor Widget, argues that John Browett leaves for Apple with Dixons in better shape than when he arrived
|
|
|
Do you agree?
Have your say