5th Apr 2016 07:58
LONDON (Alliance News) - AdEPT Telecom PLC on Tuesday said it expects to report higher earnings for its recently ended financial year, prompting the AIM-listed telecommunications company to increase its dividend.
In a trading update, AdEPT said it expects to report underlying earnings before interest, tax, depreciation and amortisation of about GBP6.2 million in the year ended March 31, up by 33% on the previous year and ahead of the 30% increase expected by the market.
Turnover is expected to be approximately 30% ahead of the previous year and above market consensus expectation, AdEPT said.
AdEPT intends to pay a final dividend of 3.50 pence per share, taking the total to 6.50p from 4.75p.
The company said it will report full-year results in early July.
Shares in AdEPT were up 10% at 253.00p on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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