Unicom profits hit £12.7m
TELECOMS service provider Unicom has reported an 11.8% increase in profits to £12.7m.
The Northenden-based business-to-business provider saw turnover increase 13.5% to £50.5m for the year to the end of April 2010, from £44.5m. Pre-tax profits increased to £12.7m from £11.2m a year earlier.
Chris Earle, Unicom operations director, said: “2009/10 has been another excellent year of trading and forecasts for 2010/11 are equally positive. We expect turnover to reach £55m by increasing our market share and our profits are projected to rise to more than £15m.
“Our new mobile product will start to make an impact later in the year, but we will see the full benefit in terms of growth in 2011.”
He added: “Our customer retention level is currently running at 88% against a sector average of around 70%. Of the 12% we lose, less than a third go to competitors, the remainder being businesses which close or move premises.”
Unicom has been trading for 11 years and has 85,000 customers, primarily small or owner-managed businesses with telephone bills of approximately £700 a year.
