24 Sep 2009 07:00
AdEPT Telecom plc
("AdEPT Telecom" or the "Company")
AGM Statement
AdEPT Telecom is pleased to announce that at the Annual General Meeting ("AGM") of the Company held at 11.00am yesterday, the resolutions proposed, as set out in the notice of AGM dated 25 August 2009, were duly passed.
Roger Wilson, Chairman of AdEPT Telecom, commenting at the Company's AGM said:
"I am pleased to report that despite the current challenging economic conditions the Company has continued to be strongly cash generative. Net debt reduction since the last financial year end, 31 March 2009, has been underpinned by continuing strong cost control and improved customer cash collection.
Despite lower year-on-year revenues, underlying EBITDA margin has been improved sufficiently through operational cost efficiencies, such that EBITDA is in line with last year."
Enquiries:
| AdEPT Telecom Plc Roger Wilson, Chairman Ian Fishwick, Managing Director John Swaite, Finance Director | 07786 111 535 01892 550 225 01892 550 243 |
| Astaire Securities Plc Shane Gallwey | 020 7448 4400 |