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(Alliance News) - Gamma Communications PLC said Wednesday it expects to report about 16% revenue growth in 2019, thanks to continued good performance in the UK and the Netherlands businesses.
For 2019, the communications services provider said revenue is in line with market consensus expectations of GBP329.8 million. Revenue in 2018 was GBP284.9 million.
Gamma said adjusted earnings before interest, tax, depreciation and amortization expected to be "slightly ahead" of GBP62.3 million consensus, up at least 29% compared to GBP48.3 million a year before.
The company said it continued to experience strong growth in key products within the UK, while its business in the Netherlands continued to increase volumes in its Cloud PBX and Mobile offerings at rates ahead of market growth.
In November, the company acquired Telsis Ltd, a developer of unified communications as a service solutions for small to medium size enterprises.
"This brought a combination of specialist development skills and engineering expertise to Gamma which will enable Gamma to expand its unified communications as a service offering," the company said.
The closing net cash balance for the year was GBP53.8 million compared to GBP35.5 million a year before, Gamma noted.
Gamma said it expects to report 2019 results on March 17.
Andrew Taylor, chief executive officer, said: "We are pleased that Gamma has continued to grow strongly in both the UK and the Netherlands."
"We are excited about the possibilities that the acquisition of the Telsis development capability affords for future product development," Taylor added.
Gamma shares were up 3.8% in London at 1,385.00 pence each on Wednesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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