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Omnifone Is In The Black For First Time

The UK-based private music services provider has reported a 118% rise in its revenues for the year ended 30 April 2012 to £29.5m and recorded its first profit of about £3.8m since its launch nine years ago. The company had attributed the rise in revenue to growing restriction on internet piracy in addition to rise in demand for cloud-based music services. CEO Jeff Hughes said the company has experienced fantastic momentum on all fronts over the past year and have achieved profitability as a result.

Read the whole story at Computer Business Review »

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