LONDON (Alliance News) - AdEPT Telecom PLC Tuesday doubled its interim dividend as it posted rising pretax profits for the half year ended September 30, despite a small decline in revenue.
The telecommunications company posted an interim dividend of 1.5 pence per share, up from 0.75 pence in the previous year.
The company posted a pretax profit of GBP1.0 million, up from GBP860,000 in the previous year, which it attributed to an improved operating profit, combined with a reduction in interest costs.
Revenue fell marginally to GBP10.2 million from GBP10.9 million, and were hampered by continued pressure on fixed-line call volumes and retail price pressure following regulatory price changes on mobile interconnect rates, AdEPT said.
AdEPT is in the process of transitioning from being a traditional fixed-line service provider to being a complete communications integrator, it said.
Shares in AdEPt were trading down 1.05 pence at 148.45 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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