Pinnacle Technology has reported a £1.1 million loss for last year, after a £115,000 profit in 2011, but it now has institutional confidence in its ambitions as a Scottish growth stock.
The group, founded 15 years ago by Alan Bonner, raised £2.95m in a placing this month to fund inroads into the cloud solutions and IT security markets, alongside IT services and traditional telecoms.
It is stressing a 49% increase in revenues, 79% in recurring contracts, to £12.7m, and 61% rise in gross profit to £4m, and shrugging off the chunky £1.6m of "exceptional and restructure costs" which saw it plunge back into loss.
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