Commsworld, the Scotland-based telecoms services provider, posted a slight rise in turnover to £36.9 million for the year to the end of December 2024, up from £36.5m as it tackled a year of high inflation.
The EBITDA figure for 2024 also rose, up to £7m from £6.6m the year before. However, consolidated results for the holding company, Highlands Bidco, show the pre-tax loss increased to £6.8m (2023: £6.6m pre-tax loss).
This latter figure takes into account depreciation, amortisation of goodwill and private equity-related accrued loan note interest and related debt issue costs.
The Edinburgh-headquartered company said the figures were broadly in line with the Commsworld Board’s expectations as the company continued to win big contracts and deliver connectivity to a diverse customer base from both the public and private sector.
Among them was the securing of a new contract worth more than £35m over five years – one of the largest in Commsworld’s history – to provide network services to Glasgow City Council that continued to transform the city’s infrastructure from ageing legacy networks to cutting-edge technologies and 5G network capabilities.
Steve Langmead, chief executive, said Commsworld’s fixed assets had also risen by more than £5m to £22.3m, up from £17.1m last year, and that a secure future lay ahead thanks to the strong foundations laid by the company’s Board and hard-working staff.
He said: “Commsworld’s results show that the company is in very good health, and we are continuing to grow. Pre-tax profits and turnover have risen compared to 2023, showing that Commsworld has managed to absorb the impact of inflation on our business.
“Future challenges include helping businesses and organisations through the Public Switched Telephone Network shutdown, ensuring the withdrawal is managed in the best possible way to guarantee a smooth transition and minimal disruption.
“But our primary aim as a company is to continue to grow and evolve, win more big contracts and set the standard through our Optical Core Network so we can grow throughout the whole of the UK, especially in remote areas of the country desperately in need of better connectivity.”
Commenting on the holding company’s loss, he said: “This does not impact on the continuing success and growth of Commsworld Ltd, as shown by its results.”
source