Kcom posts 71% rise in profits

Telecoms group Kcom reported a sharp rise in half-year profits despite a drop in revenues as it maintained its interim dividend.Profit before tax and exceptional items increases 71.2% to £16.2m in the six month ended 30 September despite revenues falling to £210.8m from £243.6m last year.The interim dividend is unchanged at 0.5 pence. 'These encouraging results demonstrate the real progress that the group has made as a result of implementing a series of strategic and operational changes. The actions taken have resulted in a simplified business and a stronger competitive and financial position,' said executive chairman Bill Halbert.'Whilst continuing to concentrate our efforts on improving the overall financial strength of the group, we will increasingly seek to maximise the growth opportunities that are now available to us.'