30 Apr 2013 07:00
AdEPT Telecom PLC
("AdEPT" or the "Company")
Trading Update
AdEPT Telecom plc today issues a trading update for the year ended 31 March 2013 ahead of final results which are expected to be announced in early July 2013.
Trading performance
The Company is pleased to announce that it expects that underlying EBITDA will be in line with the previous year and ahead of market expectations. Turnover is expected to be in line with market expectations. Adjusted* profit before tax is expected to be ahead of the prior year and ahead of market expectations.
Cash flow and net debt
The reduction in net borrowings will be ahead of market expectations. AdEPT continues to generate consistently strong cash flow. The focus on underlying profitability and cash conversion of operating profit has resulted in a further reduction to net borrowings of £2.0m during the year to £3.3m as at 31 March 2013.
Dividends
AdEPT announced an interim dividend of 0.75p per share in its September 2012 interim statement, which was paid to shareholders on 12 April 2013. The Board announced on 25 March 2013 that it would recommend a final dividend of 0.75p (2012:nil) per Ordinary Share which, subject to Shareholder approval at the Annual General Meeting later in the year, will be paid in October 2013. Total dividends declared during the year ended 31 March 2013 of 1.50p per Ordinary Share represent a 200% increase year-on-year (2012: 0.50p).
* adjusted for amortisation and share option costs
For more information please contact:
AdEPT Telecom Plc Roger Wilson, Chairman Ian Fishwick, Chief Executive John Swaite, Finance Director
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07786 111 535 01892 550 225 01892 550 243
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Northland Capital Partners Limited Edward Hutton/Lauren Kettle |
020 7796 8800 |
About AdEPT Telecom plc:
AdEPT Telecom plc is one of the UK's leading independent providers of voice and data telecommunications solutions. The Company provides a complete communications portfolio of fixed line calls, line rental, broadband, mobile, VoIP and data connectivity products. AdEPT's tailored services are used by thousands of businesses and residential customers across the UK and are brought together through the strategic relationships with tier-1 suppliers such as BT, Cable & Wireless, Virgin and TalkTalk Business. The Company employs 46 members of staff at its offices in Tunbridge Wells, Kent.
AdEPT Telecom is listed on the London Stock Exchange (Ticker: ADT.L). For further information please visit: www.adept-telecom.co.uk