LONDON (Alliance News) - AdEPT Telecom PLC on Tuesday said its pretax profit edged higher thanks to a strong revenue performance in the first half, driven by a contribution from its acquisition of Centrix.
AdEPT, which provides business-to-business telecommunication services, said its pretax profit for the half year to the end of September rose to GBP1.2 million from GBP1.1 million, as revenue rose to GBP13.9 million from GBP11.3 million. Revenue was pushed higher by Centrix, the communications provider ii bought in May for GBP10.5 million.
AdEPT said it won a number of public sector contracts over the course of the half, and this has been boosted further by the Centrix acquisition. It is also targeting more large contracts, and its Premier Division, which handles the bigger mandates, now contributes 70% of total revenue, up from 55% a year earlier.
The group said it would pay an interim dividend of 3.00 pence per share, up 33% from the 2.25p it paid a year earlier.
The company said it remains confident on its outlook for the year rest of the year and said it continues to be highly cash-generative, supporting its plans to pay a progressive dividend.
Shares in AdEPT were up 10% to 275.672 pence on Tuesday, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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