Commenting upon these results Chairman AdEPT Telecom PLC LON:ADT Roger Wilson said: “AdEPT has delivered its 13th consecutive year of increased underlying EBITDA through a combination of strategic acquisition and organic contract wins and the Group continues to deliver consistently high levels of free cash flow generation. The continued strong cash generation has funded a 37% increase to dividends declared during the year and the Board is confident that continued focus on underlying profitability and cash generation will support a progressive dividend policy.
Organically the Company has strengthened its position during the year through successfully gaining approved status on further public sector frameworks, which have been leveraged to increase the scale of its public and healthcare sector customer base. The new larger debt facility put in place in April 2015 was partially used by the Company to complete the acquisition of Centrix Limited in May 2015, which has been complemented by a further acquisition of another unified communications provider, Comms Group UK Limited post year end in May 2016. The Company has continued its transition towards a complete managed service provider, with revenue from managed services accounting for more than 44% of the total in the year ended 31 March 2016.”
AdEPT Telecom PLC (LON:ADT), a leading UK independent provider of award-winning telecommunications services for business-to-business communications, announces its results for the year ended 31 March 2016.
Financial highlights
-- 13th consecutive year of increased underlying EBITDA up 34.0% to GBP6.15m (2015: GBP4.59m) -- Revenue increased by 30.8% to GBP28.9m (2015: GBP22.1m) -- Underlying EBITDA margin % increased by 0.5% to 21.3% (2015: 20.8%) -- 28.7% increase to profit before tax to GBP2.8m (2015: GBP2.1m) -- 28.0% increase to profit after tax to GBP2.0m (2015: GBP1.5m) -- 27.2% increase to basic earnings per share of 8.78p (2015: 6.90p) -- 24.2% increase to adjusted earnings per share of 19.57p (2015: 15.76p) -- 36.8% increase to dividends declared to 6.50p (Interim 3.00p, Final 3.50p) (2015: 4.75p) -- Year-end net debt* of GBP6.0m (2015: GBP1.5m)
Operational highlights
-- Managed services accounted for 44.3% of total revenue (2015: 27.4%) -- Acquisition of entire issued share capital of Centrix Limited completed in May 2015 -- Acquisition of entire issued share capital of Comms Group UK Limited completed in May 2016
* Net debt is defined as cash and cash equivalents less short-term and long-term borrowings
