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Coms shares double on £15mln contract

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Shares in Coms (LON:COMS) almost doubled after the internet telephone company unveiled a contract worth as much as £15mln.

It has struck a deal to sell broadband and lines to an outsourcing company. The name of the customer could not be disclosed, but it has turnover of more than £2bn, according to Coms.

“This represents our largest contract win to date,” said Dave Breith, Coms’s chief executive.

“We are delighted to have signed such an important deal, which aptly demonstrates Coms’s scale capabilities across different product lines.”

The contract will run over the next 24 months, with work already underway to install several thousand lines.

Shares jumped over 90% to 1.5p each.

 

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