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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 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMADT
RNS Number : 3542J
AdEPT Telecom plc
07 April 2015
AdEPT Telecom PLC
("AdEPT" or the "Company")
Trading Update
AdEPT Telecom plc, one of the UK's leading independent providers of voice and data telecommunications solutions, today announces a trading update for the year ended 31 March 2015 (ahead of its final results which are expected to be announced in early July 2015).
-- GBP1.4m (47%) reduction in net borrowings to GBP1.6m was GBP1.1m better than consensus market expectations
-- EBITDA increase in line with market expectation of 14% rise year-on-year -- Board recommendation of an improved final dividend of 2.50p (2013: final 1.50p)
-- Total dividends declared for the year of 4.75p represents an increase of 58% over the prior period
Trading performance
The Company is pleased to announce that it anticipates that underlying EBITDA will be ahead of the previous year and in line with the market consensus expectation of a 14% rise year-on-year. Adjusted* profit before tax is expected to be ahead of the prior year and in line with market consensus expectation. Turnover is expected to be nearly 6% ahead of the previous year but slightly below market expectations.
* adjusted for amortisation and share option costs
Cash flow and net debt
The reduction in net borrowings in the year of GBP1.4m (47%) was significantly ahead of market expectations being reduced to GBP1.6m as at 31 March 2015. AdEPT continues to generate consistently strong free cash flow. This reduction in debt is after payment of (i) GBP0.36m deferred consideration for the acquisition of customer contracts from Bluebell Telecom Limited, (ii) GBP1.78m initial consideration for the acquisition of Bluecherry Telecom Limited and (iii) a 108 per cent. increase in dividends paid.
Dividends
AdEPT announced an interim dividend of 2.25p per share in its September 2014 interim statement, which will be paid to shareholders on 10 April 2015. The Board today announces that as a result of strong free cash flow it recommends an improved final dividend of 2.50p (2013: 1.50p) per Ordinary Share which, subject to Shareholder approval at the Annual General Meeting later in the year, will be paid in October 2015. Total dividends declared during the year ended 31 March 2015 of 4.75p per Ordinary Share represent a 58 per cent. increase year-on-year (2013: 3.00p).
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 7382 1100
About AdEPT Telecom plc:
AdEPT Telecom plc is one of the UK's leading independent providers of voice and data telecommunications solutions. The Company provides a complete communications portfolio of fixed line calls, line rental, broadband, mobile, VoIP and data connectivity products.
AdEPT currently holds 4 Government Telecom Framework agreements: ESPO (local government), Crown Commercial Service RM1035 (central government), G-Cloud 6 and JANET (universities and colleges).
AdEPT's tailored services are used by thousands of businesses customers across the UK and are brought together through the strategic relationships with tier-1 suppliers such as BT Openreach, Vodafone, Virgin Media and TalkTalk Business.
AdEPT Telecom is listed on the London Stock Exchange (Ticker: ADT.L). 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
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