logo-loader

AdEPT profits soar as buy and build strategy pays off

Published: 02:32 15 Nov 2016 EST

picture of telephone
No hanging around from Adept

A first contribution from recent acquisition Comms UK helped telecoms services group Adept Telecom PLC (LON:ADT) lift interim profits by a quarter.

Shareholders get a similar boost their dividend with enough spare to allow the  strategy of cash and earning boosting  acquisitions to continue.

Revenue in the six months to September rose 19% to £16.5mln, while underlying profits [EBITDA] were 20% ahead at £3.5mln.

Allowing for goodwill and other acquisition–related adjustments, pre-tax profits rose by 26% to £1.47mln.

Comms specalises in internet-based telephony but unlike Adept, which supplies telecoms to 40 councils and other public healthcare groups, its business base is mainly small to medium-sized companies.  

Managed services revenue rose to 53% of the total, which should be further boosted by another acquisition, CAT, in November.

Roger Wilson, chairman, added the six months had seen improved results in all key areas and well as the positive contribution from Comms acquisition completed in the period. 

“ We continue to be highly cash generative with adequate debt facilities in place to enable the Board to continue to identify earnings-enhancing acquisitions whilst retaining scope for a progressive dividend policy.”

The interim dividend rises to 3.75p (3p). 

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

13 minutes ago