New accounts for Pure Telecom reveal that the operator slipped into loss making last year after several years of profitable trading.
Its most recently filed accounts indicate that the Dublin based company made a €115,000 net loss for the year ending December 31, 2008.
This compares to a €226,000 net profit recorded in 2007.
Pure Telecom now has accumulated profits of €597,000.
Debtors decreased from €2 million to €1.6 million during the year, while the company’s cash posit ion grew from €12,400 to €24,000.Total creditors rose from €2.5 million to €2.7 million during the same period. The company files abridged accounts which do not disclose turnover figures.
The company was set up in 2002 by Paul Connell and Alan McDonnell, who are both veterans of the Irish subsidiary of Global Tele-Systems (GTS).
The duo have managed to grow the business organically since then and remain the sole shareholders, each holding 50 per cent.
The company expanded significantly in 2007 with the acquisition of rival operator New Tel Communications from Orion Telecommunications in a €1.1 million deal. According to Pure Telecom’s latest accounts, New Tel’s Irish operation generated a €116,000 net profit for the company during 2008.
New accounts for Pure Telecom reveal that the operator slipped into loss making last year after several years of profitable trading.
Its most recently filed accounts indicate that the Dublin based company made a €115,000 net loss for the year ending December 31, 2008.
This compares to a €226,000 net profit recorded in 2007.
Pure Telecom now has accumulated profits of €597,000.
Debtors decreased from €2 million to €1.6 million during the year, while the company’s cash posit ion grew from €12,400 to €24,000.Total creditors rose from €2.5 million to €2.7 million during the same period. The company files abridged accounts which do not disclose turnover figures.
The company was set up in 2002 by Paul Connell and Alan McDonnell, who are both veterans of the Irish subsidiary of Global Tele-Systems (GTS).
The duo have managed to grow the business organically since then and remain the sole shareholders, each holding 50 per cent.
The company expanded significantly in 2007 with the acquisition of rival operator New Tel Communications from Orion Telecommunications in a €1.1 million deal. According to Pure Telecom’s latest accounts, New Tel’s Irish operation generated a €116,000 net profit for the company during 2008.
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