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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Adept Technology Group Plc | LSE:ADT | London | Ordinary Share | GB00B0WY3Y47 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 200.50 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMADT
RNS Number : 4346B
AdEPT Telecom plc
04 April 2017
AdEPT Telecom PLC
("AdEPT" or the "Company")
Trading Update
AdEPT Telecom plc, one of the UK's leading independent providers of unified telecommunications and IT solutions, today announces a trading update for the year ended 31 March 2017 (ahead of its final results which are expected to be announced in early July 2017).
-- Net borrowings of GBP15.8m were GBP1.3m lower than consensus market expectations
-- Underlying EBITDA increase of around 26% will be ahead of market expectation of a 18% rise year-on-year
-- Board recommendation of an increased final dividend of 4.00p (2016: final 3.50p)
-- Total dividends proposed for the year of 7.75p represents an increase of 19% over the prior period
Trading performance
The Company is pleased to announce that it anticipates that underlying EBITDA will be around 26% ahead of the previous year (ahead of the market consensus expectation of an 18% rise year-on-year). Turnover is expected to be approximately 16% ahead of the previous year and above market consensus expectation.
Cash flow and net debt
Net borrowings of GBP15.8m as at 31 March 2017 were GBP1.3m lower than market expectations. AdEPT continues to generate consistently strong free cash flow. This improved performance in debt reduction is after payment of (i) GBP9.7m aggregate initial consideration for the acquisitions of Comms Group UK Limited, CAT Communications Limited and OurIT Department Limited, (ii) GBP3.0m deferred consideration for the acquisition of Centrix Limited and (iii) a GBP0.4m increase in dividends paid in the year.
Dividends
AdEPT announced an interim dividend of 3.75p per share in its September 2016 interim statement, which will be paid to shareholders on 7 April 2017. The Board today announces that as a result of strong free cash flow and trading results it recommends an increased final dividend of 4.00p (2016: 3.50p) per Ordinary Share which, subject to Shareholder approval at the Annual General Meeting later in the year, will be paid in October 2017. Total dividends proposed for the year ended 31 March 2017 of 7.75p per Ordinary Share represent a 19% increase year-on-year (2016: 6.50p).
This announcement contains inside information.
For more information please contact:
AdEPT Telecom Plc Roger Wilson, Chairman 07786 111 535 Ian Fishwick, Chief Executive 01892 550 225 John Swaite, Finance Director 01892 550 243 Northland Capital Partners Limited Nominated Adviser Edward Hutton/Gerry Beaney Broking John Howes 020 3861 6625
About AdEPT Telecom plc:
AdEPT Telecom plc is one of the UK's leading independent providers of unified communications solutions. The Company provides a complete communications portfolio of fixed line calls, line rental, mobile, IP telephony, equipment installation, managed services, IT services, Wi-Fi, IT and communications hardware and data connectivity products. AdEPT's tailored services are used by thousands of customers across the UK and are brought together through the strategic relationships with tier-1 suppliers such as BT Openreach, Vodafone, Virgin Media, Avaya, Microsoft, Dell and Apple.
AdEPT is listed on the London Stock Exchange (Ticker: ADT). For further information please visit: www.adept-telecom.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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April 04, 2017 02:00 ET (06:00 GMT)
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