Gamma Communications PLC on Wednesday - London-based cloud communication services provider - Says it performed well in the six months to June 30, noting "healthy" growth in adjusted earnings before interest, tax, depreciation and amortisation thanks to strong performances from all of its business segments. Says net cash on June 30 was GBP121.5 million, up 31% from GBP92.5 million on December 31. Adds it is well-positioned to meet market expectations of adjusted earnings before interest, tax, depreciation and amortisation of GBP110.4 million and GBP117.2 million, as well as adjusted earnings per share of 70.0 pence and 77.0p. Notes half-year results will be published on September 5.
Chief Executive Officer Andrew Belshaw says: "Our products are business critical and combine reliability and innovation to support the ever-evolving communications challenges for businesses of all sizes. These products continue to support a financial model that has a high level of recurring revenue and exceptional cash generation, which enables us to invest in and grow Gamma."
Current stock price: 1,090.00 pence, down 1.8% on Wednesday
12-month change: down 1.2%
By Sabrina Penty, Alliance News reporter
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Gamma Communications (GAMA)