02:00 Mon 11 Jan 2021
Gamma Communications - Trading Statement
Gamma Communications plc
Trading Update
UCaaS product suite continues to deliver strong growth
Full year adj EBITDA and adj EPS anticipated to be slightly ahead of market expectations
Gamma Communications plc ("Gamma"), a leading provider of Unified Communication as a Service ("UCaaS"), announces a trading update for the year ended
Trading
We are pleased to report a financial performance significantly ahead of last year with adjusted EBITDA and adjusted EPS for the year ended
Cash
The closing gross cash balance for the year was
The closing cash balance is above market expectations due to the sale of "The Loop". On
The increase in cash balance from the previous year end is pleasing given that during the year Gamma spent
Gamma has also maintained its dividend policy, despite the Covid 19 pandemic, and paid dividends to shareholders totalling
Overview of the year
Some of the highlights from the year include:
· The business performed well throughout 2020 despite the economic downturn caused by Covid-19. Its recurring revenue model has proved robust and its product set supports businesses which have had to work remotely. The group has seen cancellations and bad debt remain at the low levels experienced historically.
· During the year, the group acquired UCaaS providers in two additional countries - Voz Telecom (
· Gamma also acquired Exactive in the
· The group has continued to develop its product suites and expects to launch its Cloud Contact Centre as a Service ("CCaaS") solution during the first half of 2021; this will be targeted at the SME market.
The Board expects to announce results for the year ended
"We are pleased that Gamma has continued to grow strongly whilst also geographically expanding into
END
* Note: Company compiled consensus ranges for Revenue are
Gamma Communications plc |
Tel: +44 (0) 333 006 5972 |
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Tulchan Communications LLP |
Tel: +44 (0) 207 353 4200 |
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Investec Bank plc (NOMAD & Broker) |
Tel: +44 (0) 207 597 5970 |
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