Gamma Communications PLC - London-based cloud communication services provider - Reports strong trading in the first six months of 2022, with good year-on-year adjusted earnings before interest, tax, depreciation, and amortization growth. In the UK, company's Indirect Business remains on track to meet 8% gross profit growth for the full-year. Closing net cash at June 30 GBP72.6 million, up from GBP49.5 million at the same time a year prior. Notes good momentum moving into the second half of the year.
Looking to the year as a whole, Gamma expects adjusted Ebitda and adjusted earnings per share to be in the upper half of market forecasts. Forecasts currently stand at between GBP102.3 million to GBP106.8 million for adjusted Ebitda and between 67.1 pence to 74.6p for adjusted EPS.
Half-year results will be published on September 6.
Current stock price: 1,120.00 pence, up 1.1% in London on Tuesday
12-month change: down 47%
By Heather Rydings; heatherrydings@alliancenews.com
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Gamma Communications (GAMA)