Last year was yet another record breaking year for the Group with substantial rises in turnover across all areas of the business. The key financial highlights for 2008 are:

• Revenue from continuing operations increased by 23.9% to £32.48 million (2007: £26.2 million) following the aquisition of 3g in 2007
• Total deferred income increased to £3.33 million (2007: £1.36 million) as at 31 July 2008
• Underlying EBITDA* £130,000 (2007: £2.26 million) includes new customer acquisition costs but excludes deferred income of £1.97 million
• Reported net loss £2.3 million (2007: loss £3.55 million) including loss of £1.43 million from discontinued businesses (2007: loss of £5.97 million)
• Strong cash generation from continuing operations of £2.41 million (2007: £2.16 million)
• Continuing strong net cash generation post year end, with net borrowings falling from £4.34 million at 31 July 2008 to £3.35 million on 30 November 2008
• Banking facilities agreed for a further 12 months

* Excluding discontinued business, exceptional items, share-based payments, amortisation of intangible fixed assets and profit on sale of property.

Annual report for 2008 - click here

Interim results for 2008 - click here