KCOM Group PLC Annual Financial Report (8392R)

TIDMKCOM

RNS Number : 8392R

KCOM Group PLC

01 July 2015

KCOM GROUP PLC

ANNUAL FINANCIAL REPORT

01.07.2015

Publication of Documents: 2014/15 Annual Report and Notice of Annual General Meeting

KCOM Group PLC announces that the following documents were posted or otherwise made available to shareholders from 1 July 2015:

-- Annual Report and Accounts for the year ended 31 March 2015;

-- Notice of the Company's Annual General Meeting to be held at the KC Stadium, Hull at 11am on 31 July 2015; and

-- Proxy Form for the Annual General Meeting.

The above mentioned documents (except for the Proxy Form) are also available on the Company's website at www.kcomplc.com and in accordance with Listing Rule 9.6.1 a copy of each of these documents has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.

A condensed set of the Company's consolidated financial statements (including related party transactions) and information on important events that have occurred during the financial year and their impact on the financial statements was included in the Company's announcement of its preliminary results on 5 June 2015. That information, together with the information set out below, which is extracted from the Company's 2014/15 Annual Report, constitutes the information required to comply with DTR 6.3.5.

Principle Risks and Uncertainties

 
 Area               Change      Why is it important?            What are we doing to 
                     in level                                    mitigate the risk? 
                     of risk 
 Security and                   We place significant            We continue to monitor 
  resilience                     reliance on the networks        closely any attempted 
  of our networks                and IT systems both             attacks and take actions 
  and IT systems                 within our business             where necessary to ensure 
                                 and in the services             we have robust security 
                                 we provide to our customers.    in place. We have held 
                                 It is therefore essential       the ISO 27001 Information 
                                 that we build security          Security Management 
                                 and resilience into             standard since 2007 
                                 the networks and systems        and comply also with 
                                 to mitigate the risk            other security standards 
                                 from attacks.                   as required by our customers. 
                                                                 We have also made significant 
                                                                 investment in our IT 
                                                                 infrastructure to improve 
                                                                 the resilience of our 
                                                                 key systems. 
                   ----------  ------------------------------  --------------------------------- 
 Accuracy,                      Security of customer            We have run an information 
  security and                   data, whether it belongs        security awareness programme 
  confidentiality                to a business or an             throughout the year 
  of customer                    individual, is of paramount     to regularly remind 
  data                           importance to us. The           our people of the importance 
                                 risk to data security           of information security 
                                 remains high as a result        and their responsibilities 
                                 of the volume of external       in relation to this. 
                                 attacks seen across             We have a clear Data 
                                 all industries.                 Governance policy in 
                                                                 place and in the year 
                                                                 have appointed data 
                                                                 governance owners across 
                                                                 the business to form 
                                                                 a virtual team with 
                                                                 responsibility for all 
                                                                 matters relating to 
                                                                 data governance. Any 
                                                                 incidents, however minor, 
                                                                 are investigated and 
                                                                 control improvements 
                                                                 are implemented where 
                                                                 necessary to ensure 
                                                                 that we keep our customer 
                                                                 data secure at all times. 
                   ----------  ------------------------------  --------------------------------- 
 Customer service               Delivering exceptional          We have continued to 
  and delivery                   service to our customers        invest in our people 
                                 is one of our key strategic     and our systems to ensure 
                                 aims and therefore the          that we have the right 
                                 risk of failing to do           people in the right 
                                 this is a key risk for          roles and that they 
                                 us to mitigate.                 have the right tools 
                                                                 to provide an exceptional 
                                                                 service. We also work 
                                                                 closely with our partners 
                                                                 to ensure that they 
                                                                 are aligned with us 
                                                                 in delivering the best 
                                                                 service possible. 
                   ----------  ------------------------------  --------------------------------- 
 Recruitment                    Recruiting and retaining        We are focused on creating 
  and retention                  the right people is             a workplace that both 
  of the right                   crucial for the success         attracts and retains 
  people                         of the Group in meeting         people with the skills 
                                 our objectives. This            and behaviour that we 
                                 applies not only to             need. During the year 
                                 being able to recruit           we have created a competency 
                                 people who embody our           framework which will 
                                 values, but also to             help us identify skills 
                                 recruiting people with          gaps for recruitment, 
                                 specific technical skills       enable us to create 
                                 where needed, some of           more opportunities for 
                                 which may be in short           personal growth development. 
                                 supply. It also involves        It also links into our 
                                 developing the skills           performance management 
                                 in-house and creating           to help us ensure we 
                                 internal mobility around        are identifying and 
                                 deploying those skills.         rewarding the people 
                                                                 that embody the competencies 
                                                                 we need to drive the 
                                                                 business forward. 
                   ----------  ------------------------------  --------------------------------- 
 Reliance on                    Our business model means        We have dedicated teams 
  key partners                   that we work with several       to work alongside our 
  and suppliers                  key partners to deliver         key partners and we 
                                 service to our customers;       monitor all of our partnerships 
                                 they include Amazon             closely to ensure that 
                                 Web Services, BT, Cisco,        our partners embody 
                                 ForgeRock, Microsoft.           our key values and we 
                                                                 can work together to 
                                                                 resolve any minor issues 
                                                                 before they become significant. 
                                                                 We also have multiple 
                                                                 partners in key risk 
                                                                 areas to mitigate the 
                                                                 risk in the event of 
                                                                 failure of one partner. 
                   ----------  ------------------------------  --------------------------------- 
 

Directors' Responsibilities Statement

Each of the Directors as at 31 March 2015 whose names and functions are listed on pages 28 and 29 of the Annual Report 2014/15 confirm that, to the best of their knowledge:

-- The financial statements, which have been prepared in accordance with International Financial Reporting Standards as adopted by the European Union, give a true and fair view of the assets, liabilities, financial position and profit of the Group and Company; and

-- The Strategic report and Directors' report contained in the annual report includes a fair review of the development and performance of the business and the position of the Group and Company, together with a description of the principal risks and uncertainties that they face.

In the event of any queries, please contact Kathy Smith, Company Secretary on 01924 882501.

This information is provided by RNS

The company news service from the London Stock Exchange

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