14th Apr 2015 09:31
LONDON (Alliance News) - Alternative Networks PLC Tuesday said it is confident of meeting expectations for the whole of its financial year after trading in the first half proved to be "robust".
In a trading update, the business IT and communications service provider said it had experienced good growth in revenue and orders in its Advanced Solutions business in the six months to end-March, while its Mobile business had taken more market share and increased its subscriber base by 11% compared with a year earlier.
It said it is also making "significant progress" on integrating the ControlCircle and Intercept IT acquisitions it made.
Alternative Networks also said it ended the first half with net debt of GBP30.2 million, and is targeting a debt of below GBP20 million by the end of the financial year. It also said it remains committed to its progressive dividend policy of no less than 10% growth in the dividend, "progressing towards its longer term target of 15% annual growth in due course".
It expects to put out its results for the first half of the year on June 3.
Alternative Networks shares were flat at 462.41 pence Tuesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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