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(Alliance News) - Gamma Communications PLC on Tuesday said its performance improved in the first half of 2020 as it continued to strengthen its direct and indirect channel propositions across all markets.
In addition, the fixed-line telecommunications network provider said it appointed Xavier Robert and Charlotta Ginman as non-executive directors with immediate effect.
Robert has been a private equity professional for more than 20 years. He leads the investment activities of private equity firm Bridgepoint in the UK and sits on its executive and investment committees.
Ginman, meanwhile, began her career at Ernst & Young in 1989, and was then appointed to a series of senior roles in investment banking with UBS Group AG, Deutsche Bank AG and JP Morgan both in London and Singapore. She has also held senior roles within Nokia Corp. Currently Ginman serves as non-executive director of Pacific Assets Trust PLC, Polar Capital Technology Trust PLC, Unicorn AIM VCT PLC and Keywords Studios PLC.
Turning back to Gamma's earnings, revenue grew by 12% to GBP177.3 million in the six months to the end of June from GBP158.2 million a year earlier. Pretax profit rose by 21% to GBP26.2 million form GBP21.7 million.
The number of Horizon users increased from 522,000 to 560,000 in the first six months of 2020. The main growth area continues to be in the small and medium size enterprises segment which is the market segment that Horizon, a cloud-based business phone system, has been developed to serve, the company noted.
Gamma increased its dividend by 11% to 3.9 pence from 3.5p paid a year ago.
"Despite the Covid-19 pandemic, our product performance was positive, and we continued to strengthen our market capabilities through the development and launch of new products and services," said Chief Executive Andrew Taylor.
Gamma shares were trading 5.0% higher in London on Tuesday at 1,585.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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