KCOM Regulatory News (KCOM)

25 Jul 2008 07:00



KCOM Group PLC

25 July 2008 

KCOM Group PLC (KCOM.L)

AGM Trading Update and Interim Management Statement

At its Annual General Meeting today, KCOM Group PLC ("KCOM") will provide an update on trading since its Preliminary results announcement on 20 May and publish its Interim Management Statement. This statement relates to the period from 1 April to 30 June 2008. 

Current Trading

Over the first quarter the Group has delivered improved profitability at all levels, despite lower revenues than in the same period last year.

Our Telecoms & Internet Services business continues to perform strongly with its high level of recurring service revenues and strong cash flows. The Integration & Managed Services business has a strong pipeline but is experiencing revenue weakness in what we expect to remain a challenging market. 

Our efficiency initiatives outlined in November are on track. In light of the deteriorating market conditions, our operational focus on cost and capital efficiency will continue and we are targeting further efficiency gains as the year progresses. The Board remains strongly committed to the creation of value for its shareholders .

KCOM announces its interim results on 25 November 2008.

Board Change 

John Carrington is stepping down as a non-executive director of the Company to devote more time to his charitable commitments. He has been a director since April 2003. The company will now start the search for a successor so that the right balance on the Board can be maintained. Bill Halbert will assume Mr Carrington's responsibilities as Senior Independent Director and Chairman of the Remuneration Committee. Michael Abrahams, Chairman of KCOM, said: "John has made a major contribution to the Board's deliberations over the last five years. We thank him and wish him well for the future."

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About KCOM Group PLC

KCOM Group PLC provides a range of integrated IT and communications services to businesses, and internet and telecommunications services to selected consumer markets, within the UK. 

The Group's portfolio of businesses works with both leading private enterprise customers and public sector organisations. Through its Integration and Managed Services businesses, Affiniti, Smart421 and JAM IP, the Group delivers solutions covering unified communications, contact centre solutions, data management, applications integration and managed services.

The KCOM Group also includes a regionally-focused business, Kingston Communications, which supports small to medium-sized businesses. Through its KC and Eclipse brands, the business offers a wide range of internet-based and telecommunications services. The regional business also provides telephony and internet services to targeted consumers through its KC Talk, Eclipse and Karoo brands.

The Group is listed on the London Stock Exchange and employs over 2,500 people across the UK.