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LONDON (Alliance News) - Investment company Zegona Communications PLC said Monday it is on track for full-year revenue growth and is evaluating more investment opportunities in the European telecoms sector.
Zegona, which owns Spanish regional cable operator Telecable, reported earnings before interest, tax depreciation and amortisation in the third quarter to September 30 of EU16.0 million, down 1.3% from EUR16.2 million year-on-year. The company's revenue for the quarter was USD34.2 million, up 1.5% compared to the same period in 2015.
Zegona said it paid an interim dividend of 2.25 pence in October and expects to pay the same dividend amount in March 2017. The company said it is on track for full-year revenue growth of between 3% and 4%.
"The strong Spanish economy and further evidence of price repair in the communications sector, allied with Telecable's excellent market positioning, gives us confidence that we will continue to deliver strong performance across our key financial metrics for full year 2016 and into 2017," said Eamonn O'Hare, chairman and chief executive of Zegona.
"Beyond Spain, we continue to see a number of attractive new investment opportunities as we look out across the European TMT landscape. We will evaluate those transactions which can be executed efficiently, enhance shareholder returns, and which satisfy our disciplined financial criteria," added O'Hare.
Shares in Zegona were down 0.7% at 134.00p on Monday.
By Adam Clark; adamclark@alliancenews.com
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