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26 Sep 2008 07:00
26 September 2008
KCOM Group PLC (KCOM.L)
Interim Management Statement
KCOM Group PLC (KCOM.L) issues the following trading update ahead of its Interim results for the six months ending 30 September 2008 which will be announced on 25 November.
Overall Group profitability, before making provision for the item noted below, is expected to be consistent with the comparable six months of the prior year on lower revenues.
Our Telecoms & Internet Services business continues to perform strongly. The benefit of high levels of recurring revenue combined with a strong focus on cost management and capital expenditure has resulted in improved year on year profitability.
Consistent with expected levels of activity in Integration & Managed Services, and in line with the statement we made at the time of our AGM in July, our focus has been on accelerating the reduction in the cost base and this will impact positively on performance over the second half.
The failure of Lehman Brothers is expected to result in a reduction to EBITDA of no greater than £3 million in the current financial year.
Chairman, Michael Abrahams, said: "The Board remains committed to the creation of shareholder value, not least through our dividend policy."
Ends
For further information, please contact:
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Investors |
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Paul Simpson - KCOM Group PLC |
Tel: 07718 600298 |
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Media |
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Colin Browne - The Maitland Consultancy |
Tel: 020 7379 5151 |
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Mobile: 07733 103 800 |
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.
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