RedstoneConnect* (REDS LN, BUY, T/P 250p) - Update | Full year PBT** forecast of £2.2m unchanged
We have left our full year adjusted PBT forecast for RedstoneConnect (Redstone), unchanged at £2.2m but have lowered our net cash forecast from £4.8m to £2.5m due to increased working capital commitments.*Whitman Howard acts as joint broker to RedstoneConnect
**before integration and transactional costs and share based payment charges
RedstoneConnect Plc, formerly Coms Plc, is engaged in providing technology and services for smart buildings and commercial spaces through its core businesses, Redstone and Connect IB. The Company, through Redstone, provides a range of services, including design, build and installation; managed services, and software solutions. The managed services encompasses the provision of outsourcing services spanning network infrastructure management, smart buildings support services, desktop and data center support services and move, add and change services. Redstone offers OneSpace occupancy management product. The Company, through Connect IB, creates digital solutions. Connect IB develops and deploys applications, including those that address mapping and way finding of Smart Buildings and Smart Spaces, such as car parks or retail shopping centers. It serves customers of all sizes, including corporations, such as property developers, landlords and principal occupiers of commercial property.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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