LONDON (Alliance News) - Manx Telecom PLC said Thursday it has renewed a number of agreements with the Isle of Man government, and that Chief Executive Officer Mike Dee plans to retire during the second half of 2015.
The Isle of Man telecommunications provider said it has traded in line with its expectations in 2014.
The domestic business performed well, Manx said, and it continues to invest in its infrastructure. Its Global Solutions business continues to perform well with revenue growth driven by machine to machine services, and it has a strong pipeline of new hosting business at its Greenhill data centre.
Following the year end the company launched a superfast fixed line broadband service to around 50% of homes and businesses on the Island, and 4G services for pay as you go mobile customers.
Under the renewed agreements, Manx will provide the government with mobile services to over 3,000 handsets, local area network infrastructure to over 5,500 customers, wide area networking to over 220 sites as well as fixed line, internet access and network services. It will provide these for a five year period, except the mobile and fixed line services which had a term of two years.
Manx said that it has begun recruitment for a successor to Dee, and will provide updates in due course.
Shares in Manx are trading up 1.2% at 188.23 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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