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ADT Adept Technology Group Plc

200.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

AdEPT Telecom plc Trading Update (4346B)

04/04/2017 7:00am

UK Regulatory


Adept Technology (LSE:ADT)
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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

END

TSTUOVVRBAASRAR

(END) Dow Jones Newswires

April 04, 2017 02:00 ET (06:00 GMT)

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