Bullish VAR Redstone has seen gross profit rocket by 43 per cent for the six months ended 30 September 2006.
Turnover for the period was £47.4m, compared with £33.4m in the same period last year. Profit stood at £17.4m, compared with £12.2m for the same period in 2005.
The VAR has also made an offer for fixed-line specialist IDN Telecom. It claimed that this will bolster its fixed-line Redstone Telecom business and bring in more than 2,000 new customers. During the same six months, the firm acquired Symphony Telecom Holdings and VAR group Tolerant (CRN, 25 July).
Martin Balaam, chief executive of Redstone, said in a statement: “We believe that the outlook for the Group is positive and the Board remains committed to delivering growth, both organically and acquisitively in the developing telecoms and IT sectors.”
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