Pinnacle feels benefit of acquisitions

By DOMINIC JEFF
Published on 28/06/2012 00:26

A recent programme of acquisitions helped IT and telecoms firm Pinnacle Technology Group grow revenues by two thirds in the last half year.

The Stirlingshire-based firm, which recently changed its name from Pinnacle Telecom to reflect its broader reach, had revenues of £6.4 million in the six months to 31 March, compared to £3.8m in the same period a year before.

It said it delivered more than 100 contracts for the BBC and secured further agreements for work supporting broadcasts of the Queen’s Jubilee and the London Olympics.

Chief executive Alan Bonner said: “These results demonstrate the increased scale of Pinnacle.

“Through our programme of targeted acquisitions, we have built an IT services business with a strong base of recurring revenues, operating in niche, high growth markets such as data, multi-site connectivity and security.”

The firm’s profits before tax and other deductions stood at £107,000 for the half year, up from £90,000 a year ago.