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(Alliance News) - Gamma Communications PLC on Tuesday reported double-digit earnings growth in 2019 amid increased demand for its products.
The communication services provider said pretax profit increased by 31% to GBP45.2 million in 2019 from GBP34.5 million a year earlier, as revenue grew by 15% to GBP328.9 million from GBP284.9 million.
During the year, Gamma said the number of installed SIP Trunks increased by 19% to 1.0 million as at December 31 from 856,000 as at the end of 2018. The number of Horizon users increased by 20% to 522,000 from 435,000 year-on-year. The main growth area was in the small and medium-sized enterprises segment which is Gamma's target market segment.
Gamma said its connectivity products have continued to perform well as part of its overall solution strategy. Broadband has increased by 18% to 111,000 units and Ethernet by 66% to 13,900 units. Mobile connections have increased by 24% to 62,000.
"Despite an increasingly competitive market, our product performance was positive, and during the period we continued to strengthen our market capabilities, through the development and launch of new products and services," said Chief Executive Andrew Taylor.
Gamma declared a dividend of 10.5 pence a share, up 13% from 9.3p paid the year earlier.
The stock was trading 0.2% higher in London on Tuesday at 972.00p a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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