Shares in Spirit Telecom (ST1) are surging today after the company's latest quarterly market update in which it highlighted some strong financial resultsOver the September quarter, Spirit pulled in $15.6 million in revenue — up 149 per cent on the same time last year and 30 per cent on the June quarter
The revenue growth was underpinned by a string of acquisitions over the quarterThe company has been working to become a one-stop-shop for the IT and telco needs of the small-to-medium business sector
To reflect its business transformation, Spirit is changing its name to Spirit Technology Solutions, still under the ticker code ST1ST1 shares are up just over five per cent this afternoon, currently trading for 39 cents eachShares in Spirit Telecom (ST1) are surging today after the company's latest quarterly market update in which it highlighted some strong financial results.
The company had a busy first quarter of the new financial year. Since July, Spirit has bought four companies, signed a memorandum of understanding (MoU) with fellow ASX-listed Opticomm (OPC) on the NSW government $100 million GIG state tender, and raised $23.2 million through a placement and share purchase plan.
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