Redstone plc (RED.LN), an integrated ICT and Communications Solutions provider, announced Monday it made an adjusted EBITDA of GBP5.0 million for the 12 months ended March 31, compared with GBP14.1 million.

MAIN FACTS:

-Revenues steady at GBP197.8 million (2008: GBP200.7 million)

-Gross profit margin 34.6% (2008: 38.9%)

-Operating loss of GBP49.7 million including a GBP43.8 million impairment of intangibles charge (2008: operating profit of GBP3.2 million)

-Diluted loss per share of 37.73 pence (2008: profit 2.21 pence)

-Diluted adjusted EBITDA per share of 3.44 pence (2008: 9.62 pence)

-Year end net debt of GBP24.3 million (2008: GBP20.5 million)

-Dividend: n/a

-Awarded the Birmingham BSF contract with projected revenue of GBP150 million over next 10-15 years.

-Secured GBP6 million of additional debt funding through the issue of a convertible loan note to SVG Investment Managers Limited and Gartmore Investment Limited. (right to conversion is subject to shareholder approval).

-Revised Facility signed with Barclays Bank (BARC.LN) until 2011.

-Sale of Redstone Telecom/Mobile post year end for GBP17 million.

-Stephen Yapp appointed to Board of Directors.

 
 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com

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