Hello Telecom has announced its results for the year to 30th September showing pre-tax losses down by 28% to £44,696. Turnover was up 22% at £1.15 million, although both administrative expenses (£380,066) and distribution costs (£5,691) were up, by 8% and 35% respectively. Gross profit was up by 16%, at £361,896. The loss per share was down by 37% at 0.17p. Net assets increased significantly, rising 243% to £762,979 at the period end, with cash standing at £33,255.

Hello Telecom said that its TelNG VoIP acquisition, a hosted voice technology, had bedded in well, and had provided new distribution partners. It added that it expected an increase in the take-up of VoIP (voice over internet protocal) services in the business sector, and that progress had been made in signing agreements with distribution partners, with four agreements achieved so far.

At a mid-price of 11p Hello Telecom is capitalised at £3 million, but still shows no sign of moving into profitability. We note that the net loss in the first half of the year was just £931, which implies that the second half was significantly worse. That considered, and given the continuing economic uncertainty, we think t’s still time to say goodbye to Hell – Sell.