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RNS Number : 8529O AdEPT Telecom plc 06 July 2010 AdEPT Telecom plc ("AdEPT" or the "Company") Final results for the year ended 31 March 2010 AdEPT, a leading independent provider of award-winning telecommunications services for fixed line, mobile and data connectivity, announces its results for the year ended 31 March 2010. Financial Highlights · Increased underlying EBITDA for seventh consecutive year · EBITDA excluding non-recurring costs up by 3% to £3.6m (2009: £3.5m) · Underlying EBITDA margin % up by 1.7% to 14.0% (2009: 12.3%) · Excellent cash generation with free cash flow, after interest and before non-recurring costs, of £1.9m (2009: £2.1m) · 86% of reported EBITA (£3.1m) converted into cash generated from operating activities (£2.7m) (2009: 103%) · Net debt reduction of £1.6m year-on-year (2009: £0.5m) to £9.2m (2009: £10.8m) Operational Highlights · Substantially increased product range · 10% increase in ARPU as at March 2010 to £77.97 (2009: £71.16) · Further progress in increasing revenue from fixed monthly charges to 48% of revenue for the year ended March 2010 (2009: 43%). In the month of March 2010 fixed charges were 53% of revenue. · Greater than 70% increase to mobile and data revenues year-on-year · 86% of revenue generated from customers taking more than one product or service (2009: 81%) · 23% of revenue generated from customers taking 3 or more products (2009: 15%) · Overhead costs (excluding one-off restructuring costs) decreased to 23% of revenue (2009: 24%) · Prior year improvement to credit collection processes and debt management maintained with year end debtor days of 30 (2009: 29 days) Commenting upon these results Chairman Roger Wilson said: "The business has been resilient through challenging economic conditions, generating increased profitability, developing new product sets and continues to be highly cash generative. AdEPT has delivered on its strategy of deleveraging from the continued strong operating cash generation." For further information on AdEPT Telecom please visit www.adept-telecom.co.uk or contact: AdEPT Telecom Plc Roger Wilson, Chairman Ian Fishwick, Chief Executive John Swaite, Finance Director 07786 111 535 01892 550 225 01892 550 243 Astaire Securities Plc Shane Gallwey 020 7492 4775 CHAIRMAN'S STATEMENT It is with great pleasure that I announce our annual results. For the year ended 31 March 2010 AdEPT Telecom plc ("AdEPT" or the "Company") delivered another strong trading performance. Review of Operations During the past year the Company has focussed on larger customer contracts, with target

Some interesting buys after 4pm, could see it opening up higher tomorrow, not significantly mind, but anything in this current climate is nice :)

I'm not sure as to exact cause of todays fall, but i can tell you investors will be keeping clear of property related shares for the next couple of years. I'm currently taking a degree in Real Estate and we do focus on international sales and market euphoria. That said i know next to nothing about this company. All i can tell you is prices across the board are over inflated and will fall in the coming months/years. You can find plenty of research to support this if you dont believe me. If you couple in a rise in interest rates (possible) and/or cuts in wages/job losses then defaults on mortgages will start occurring, followed by repossessions or people selling up. Times are going to get harder, at least for the next 3 years - property investment was yesterdays news. You will be holding for a long time IMO

Point taken about the loan notes. So you're expecting 0.50 by October correct? I have to disagree but that is just my opinion, if you are sure it will continue down then place some shorts on that happening. I don't have a large invesment here, practically a 5% in value of my investments overall in fact although if i were to sell Monday morning it would be more like a 3% now, so im not pinning all my hopes on this. In the long term even you have to admit this share has potential! The markets are undervalued FACT. When things pick up, probably in 2011/12, i would think all shares would see rises off the back of no news whatsoever, which is another reason to leave such a small amount in here. I know everyones situation is different but staying in here is the right thing for me, and introducing shares at 0.50 while damaging in the short term, will be tiny in comparison to gains we will see in the long term. Unless this rises to 2p in the short term we'll be discussing this for a while yet ;)

I'm genuinely interested to hear how low you think this will go, please enlighten me. If you don't mind could you post your research that you believe indicates the SP will go lower. All you seem to post is 'the company is in debt' or 'the share price is falling, i'm right' etc but you dont back anything up with hard facts or links. Please do so as your current method is portraying you as a deramper, and an obvious one at that. We all have opinions and there is nothing wrong with expressing them except if you are trying the ramp/deramp a share you should post evidence as to why you think so. Hope to see some changes to your posts soon ;)

Gemma are you selling and buying back your shares to keep this moving lol? I read on iii that the reason MCR is so stagnant is mainly down to nobody knowing about it. Not sure how accurate that is, would be nice if it turned out to be true as a bit of good press would send them rocketing.

sinking ship? based on falls? It's a market guys what do you expect, prices shoot up and down. The fact is that there is no confidence in investors at the moment! Just look at the risers and fallers each day and you will get the picture, massive overreactions to very little news. A lot of companies will be struggling through this period, so we can only hope the larger ones which deal with more capital appear as a more enticing gamble to investors. With all this talk of a double dip recession, base metals will continue to increase, investor confidence will shift more towards these sectors and MCR will hopefully benefit. http://www.proactiveinvestors.co.uk/companies/news/18163/central-bankers-believe-gold-will-be-strongest-asset-class-in-second-half-of-2010-18163.html One last thing, just because a company struggles over one year does not automatically mean it will go bust. As long as the board of directors are on top of things this has the potential to pick up towards the end of the year. MCR are a prime example, read below http://www.proactiveinvestors.co.uk/companies/news/14965/mercator-gold-new-strategy-is-beginning-to-reap-dividends-14965.html

thanks for explaining Gemma, i'll just have to get used to Electrum Resources. 'French bank Societe Generale is forecasting that gold could reach $1,430 an ounce in the third quarter of this year' http://theeconomiccollapseblog.com/archives/25-signs-that-almost-everyone-is-expecting-an-economic-collapse-in-2010 Quite a depressing article but you have to take the positives where you can.

nice post! confirms August to look forward to then! looking forward to 'SKR is expected to complete a NI43-101 preliminary economic assessment (PEA) of the Copper Flat imminently' can someone tell me why they are renaming, i quite like Mercator Gold personally but if it keeps the shareholders happy...

TBG1 i think you misread my post, i was trying to be ironic about the SP fall in comparison to a largely positive RNS. Whatever you make of their debt, it's quite ridiculous to suggest the future of this company is on a cliff edge. The fact that there are ongoing and future projects suggests a FUTURE. I understand that these debts are a worry for some however im sure MCR would be able to fund any imminent loan repayments, they do have people who specificaly deal with making sure it doesn't get out of hand, or at least i would hope every company does. phytochrome, good to hear another investor in here. Also interesting post, i wouldn't wait 15 months personally, i'd probably get bored and bank a 50-60% gain if it came about by the end of 2010. Obviously not going to sell on a loss, my get out is about 1.60 to make those sorts of gains

anyone know anything about these falls today? I remember seeing RKH fall back before its rise from 30-140-180 etc etc which is how im interpreting this. I've seen a fair few market tricks played by those greedy animals, but while im not losing confidence in this share, it is demoralising seeing red. Did anyone else read a MCR RNS this morning stating GOOD results, because im sure i did..

last post, over a year ago, look at the share price now! I used to collect models from this shop, they are always expanding with new releases that reel in the fools who have nothing better to do than buy more plastic. I think this will be a long term good'un although i've yet to do much research. I do know they continue to increase prices in-store contrary to metals such as lead rising at a slower pace. The recent strategy of changing the Lord of the Rings System to larger gameplay was rather coy, as you would need to buy more figures in order to field the larger forces. They have reduced stores in the UK, turning to online business and continue to produce good quality miniatures. Feedback of recent releases can be found on large wargaming forums such as the One Ring, in the news and rumours section. Their opinions usually portray the general consensus of whether a release is going to be well received or not. Can only see this company going from strength to strength in the long term

thanks for the links, makes for a nice read over breakfast. it's portrayed as very positive and the figures seem to confirm this, just have faith in the company. Whether you feel KWB1 who is shorting against Mercator Gold is believable is up to you however the fact that he benefits from a falling share price says it all really.

surely these haven't risen on the back of news relating to when results will be published?

this share has recently caught my attention, with all the ups and downs, could make for a daytraders dream, or disaster. My buy in would be 13-14 if it goes much lower which history suggests it should however another rule of trading, dont follow trends is putting me off lol

Sorry i meant the news Gemma posted, didn't mean to mislead. As far as future news is concerned i honestly don't have a clue when and what it is. From reading about the projects Mercator is involved in, it seems most of them are due to commence towards the end of this year and complete for 2011, so perhaps share interest will creep up towards year end. If you look at the recent press releases, they tend to release some news once a week on average (once every 5 days infact) so we are due a press release. Might be why the price has dipped today, people are getting impatient. Can't see any other reason why the MM would drop the price other than to entice some interest. Would be nice to have a day in here like that of FOGL yesterday ;)

Thanks for posting Gemma, i dont often have the time to find research as you mentioned, and the research i do do tends to bring up unhelpful sources so its a benefit to me and to other shareholders here that you regularly update the thread. That said, I couldn't decipher that latest update lol, seems the director Patrick Harford is pleased with the recent activities. Do you think their recent dealing with THEMAC will cause the SP to rise? Honestly i dont think it will, acquisition in a company doesn't guarentee a profitable investment so i think unless positive finance figures regarding MCR or Themac are issued, then i cant see any major rises, lets just hope the news brings in further investment interest. ps. hello manfromthepru good to see another shareholder here

have you two subscibed here? i was wondering where you get this news from

RKH? or if you want a constant one way share, BPs the way to go lol, but this is probably just an over reaction.

right found it, 'The Group anticipates reporting full-year revenue growth, on a constant currency basis, to be flat following a fourth quarter that is expected to be 3% lower than prior year. This reflects ongoing branded promotional activity in UK combined with weak retail sales across Europe. The Group is seeing prices for key raw materials increasing by 4% by the end of June compared with December 2009. We believe our markets will remain volatile and there remains a significant risk that our material costs will rise by a further 4-6% during the next financial year. Our business model is designed to manage raw material increases effectively, although inevitably there will be a delay before recovery from customers.' The share price has fallen because of average results and poor prospects, then again im no expert with this share, but still looks like a tough time ahead, note the wording 'volatile'