Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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RNS Number : 8529O AdEPT Telecom plc 06 July 2010 AdEPT Telecom plc ("AdEPT" or the "Company") Final results for the year ended 31 March 2010 AdEPT, a leading independent provider of award-winning telecommunications services for fixed line, mobile and data connectivity, announces its results for the year ended 31 March 2010. Financial Highlights · Increased underlying EBITDA for seventh consecutive year · EBITDA excluding non-recurring costs up by 3% to £3.6m (2009: £3.5m) · Underlying EBITDA margin % up by 1.7% to 14.0% (2009: 12.3%) · Excellent cash generation with free cash flow, after interest and before non-recurring costs, of £1.9m (2009: £2.1m) · 86% of reported EBITA (£3.1m) converted into cash generated from operating activities (£2.7m) (2009: 103%) · Net debt reduction of £1.6m year-on-year (2009: £0.5m) to £9.2m (2009: £10.8m) Operational Highlights · Substantially increased product range · 10% increase in ARPU as at March 2010 to £77.97 (2009: £71.16) · Further progress in increasing revenue from fixed monthly charges to 48% of revenue for the year ended March 2010 (2009: 43%). In the month of March 2010 fixed charges were 53% of revenue. · Greater than 70% increase to mobile and data revenues year-on-year · 86% of revenue generated from customers taking more than one product or service (2009: 81%) · 23% of revenue generated from customers taking 3 or more products (2009: 15%) · Overhead costs (excluding one-off restructuring costs) decreased to 23% of revenue (2009: 24%) · Prior year improvement to credit collection processes and debt management maintained with year end debtor days of 30 (2009: 29 days) Commenting upon these results Chairman Roger Wilson said: "The business has been resilient through challenging economic conditions, generating increased profitability, developing new product sets and continues to be highly cash generative. AdEPT has delivered on its strategy of deleveraging from the continued strong operating cash generation." For further information on AdEPT Telecom please visit www.adept-telecom.co.uk or contact: AdEPT Telecom Plc Roger Wilson, Chairman Ian Fishwick, Chief Executive John Swaite, Finance Director 07786 111 535 01892 550 225 01892 550 243 Astaire Securities Plc Shane Gallwey 020 7492 4775 CHAIRMAN'S STATEMENT It is with great pleasure that I announce our annual results. For the year ended 31 March 2010 AdEPT Telecom plc ("AdEPT" or the "Company") delivered another strong trading performance. Review of Operations During the past year the Company has focussed on larger customer contracts, with target
LONDON (Dow Jones)--AdEPT Telecom PLC (ADT.LN), an independent provider of voice and data telecommunications services, said Wednesday it has won a 36 month contract to supply a national electronic games operator with a voice and data network of 450 sites, worth more than GBP800,000. MAIN FACTS: -Contract involves the deployment of a nationwide data network with Ethernet central connectivity. -The voice element of the contract involves a complex inbound and outbound solution based on 21st Century Network feature set. -Shares closed Tuesday at 23.5 pence -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; tommy.stubbington@dowjones.com (END) Dow Jones Newswires May 05, 2010 02:39 ET (06:39 GMT)
Having studied telcos for many years, in my opinion Adept is effectively dead, too much debt, terrible churn and with no cash for acquisitions, is a slipery slope from here. Compare ADT to Pinnacle Telecom (PINN), Pinn is debt free, doubling its turnover, profitable and at the bottom of the growth curve, its share price is half of what it was in December and it's due to announce its half year results, which, according to recent RNS's are good and profitible. I know where my money is going. JA
Established in 2003, Adept has completed more than a dozen acquisitions in a consolidating and fragmented market estimated to contain 1000 small service providers. Not only does its greater size give it better terms with suppliers but Adept can immediately cut out duplicated costs. The company is already managing over 16,000 customers and integrating acquisitions into its highly systemised back office systems is a relatively simple process as each comprises a pool of contracts. In the past, Adept has claimed that it operates with three times the turnover per employee achieved by the smaller businesses it is buying. In November, Teather & Greenwood downgraded its profit forecast savagely from £3.9m (eps 13.5p) to £1.9m (eps 6.6p) for the current year. Its forecast implied a margin of 11.9%, down from 18.2% mainly due to the operational gearing of the business to a lower revenue figure. That is now working in reverse. The broker has yet to upgrade but the shares are an obvious buy. * The writer has a holding