Scotland business

Revenues fall at telecoms company Pinnacle Technology

Crowd at T in the Park
Image caption Pinnacles specialises in providing telecoms services for big events like T in the Park

Telecoms firm, Pinnacle Technology Group, has reported a fall in sales and a loss for the six months to the end of March.

Revenues at the Stirlingshire-based company were down by almost £1m to £5.4m

The company made an underlying loss during the period of £84,000 compared with a £115,000 profit during the same period in 2012.

Pinnacle described recent trading conditions as "challenging".

The firm was formed in 2002 to provide IT and telecoms services mainly for small and medium-sized businesses.

It has also provided services at events such as the Olympics, the Queen's Diamond Jubilee, T in the Park, the Pope's visit and the Chelsea Flower Show.

Pinnacle said the weaker results were partly down to "a lower level of high-profile event related activity, and a reduction in the number of IT Security projects".

It also said that revenues had reduced in its telecoms division because regulatory price changes had "seen call charges from landline to mobile and non-geographic numbers reduce considerably", however the company said that was a move it had supported and it had managed to protect margins.

Pinnacle said it was still in a strong financial position after raising more than £2.6m through a share placing and said it was looking "to the future with great optimism".

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