AdEPT Telecom plc recommend increased final dividend

AdEPT Telecom plc, one of the UK’s leading independent providers of voice, data and unified telecommunications solutions, today gave DirectorsTalk a trading update for the year ended 31 March 2016 (ahead of its final results which are expected to be announced in early July 2016).

·     Net borrowings of £6.2m were £0.8m lower than consensus market expectations

·     Underlying EBITDA increase of around 33% will be ahead of market expectation of a 30% rise year-on-year

·     Board recommendation of an increased final dividend of 3.50p (2015: final 2.50p)

·     Total dividends for the year of 6.50p represents an increase of 37% over the prior period

Trading performance

The Company is pleased to announce that it anticipates that underlying EBITDA of around £6.15m will be around 33% ahead of the previous year (ahead of the market consensus expectation of a 30% rise year-on-year). Turnover is expected to be approximately 30% ahead of the previous year and above market consensus expectation.

Cash flow and net debt

Net borrowings reduction was £0.8m better than market expectations being reduced to £6.2m as at 31 March 2016.  AdEPT continues to generate consistently strong free cash flow.  This improved performance in debt reduction is after payment of (i) £7.0m initial consideration for the acquisition of Centrix Limited, (ii) £0.2m deferred consideration for the acquisition of Bluecherry Telecom Limited and (iii) a £0.4m increase in dividends paid in the year.

Dividends

AdEPT announced an interim dividend of 3.00p per share in its September 2015 interim statement, which will be paid to shareholders on 8 April 2016.  The Board today announces that as a result of strong free cash flow and trading results it recommends an increased final dividend of 3.50p (2014: 2.50p) per Ordinary Share which, subject to Shareholder approval at the Annual General Meeting later in the year, will be paid in October 2016. Total dividends for the year ended 31 March 2016 of 6.50p per Ordinary Share represent a 37 % increase year-on-year (2015: 4.75p).

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Adept Telecom Plc

More articles like this

Adept Technologies

Best practice for online password managers

The big news in the IT world is the snowballing story that a leading, online password manager called LastPass has had a large data breach. This was first reported in November 2022, with reassurances that it

Adept Technologies

Accessing technology in an unpredictable world

Although we may prefer it otherwise, we live in interesting times. Due to the changes in how and where people work, UK businesses have seen an acceleration in their digital transformation programs, but at the same

Adept Technologies

Hybrid Working: Enabling the evolution

Technology has been, and remains, the catalyst for business change. The evolution and adoption of cloud-based apps and services has played a huge role in accelerating the move to a more flexible and agile working environment.

Adept Technologies

Procurement Frameworks

AdEPT sit on multiple frameworks and can offer help and advice on the best route to procure our products and services for the public sector.  AdEPT provides solutions to the Houses of Parliament, the Cabinet Office,

Adept Technologies

Helping you find the right IT Framework

Procurement Frameworks are crucial for the public sector, enabling you to procure goods and services from a list of pre-approved suppliers through a compliant route that meets legislation and policy as well as ensuring best value

Adept Technologies

The basics of cyber security

Why attack an unhackable firewall when you can trick a very hackable person? Cyber Security is a complex and unfathomable area of the computer industry cloaked in mystery that nobody understands. Well, yes and no. It

Adept Technologies

AdEPT and Environmental, Social and Governance

CEO Statement: The AdEPT leadership feels it has a duty to set an example. We will measure our carbon footprint, and we will take clear and sensible actions to reduce our impact on the planet. Whilst

Adept Technologies

Managing hospital IT infrastructure

Hospitals have recently seen a large growth in technological progress, with innovation happening across every department – from accounts through to operating theatres – as they strive to improve the customer experience and increase financial and

Adept Technologies

Case Study: Trentside Federation

Haxey Church of England Primary School is a ‘happy, secure, caring and stimulating environment where everyone is valued’. It is an Ofsted-rated Good school, and together with West Butterwick C of E Primary School, and St