3rd Apr 2019 10:41
LONDON (Alliance News) - IT services provider AdEPT Technology Group PLC said on Wednesday that it expected to raise its dividend for its recently ended financial year, amid growth in revenue and earnings.
AdEPT is expected to recommend a final dividend of 4.90 pence per share, leading to a total annual payout of 9.80p, up 12% from 8.75p the year before.
Underlying earnings before interest, taxes, deprecation and amortisation and revenue is set to rise by 13% year-on-year. This was in line with company-compiled consensus market expectations.
For the prior year, underlying Ebitda was GBP9.8 million on revenue of GBP46.4 million.
The group's net senior debt as at March 31 was GBP27.2 million, up from GBP17.6 million the same date the year before. Debt levels were, however, GBP800,000 below market expectations of GBP30.0 million, AdEPT added.
"The board is pleased to report a year of continued further progress and delivery of our organic and acquisitive growth strategy. We have seen substantial growth across the AdEPT group, alongside important acquisitions which have extended our geographic reach and our product range," said AdEPT in a statement.
AdEPT expects to publish its annual results in early July.
Shares in AdEPT Group were up 1.1% at 333.50 pence on Wednesday.
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