9th Dec 2015 09:13
LONDON (Alliance News) - IT technology and services provider Alternative Networks PLC Wednesday expressed confidence for its coming year as it reported a rise in pretax profit for its most recently ended financial year, and proposed a 13% rise in its dividend.
For the year to end-September the company reported a pretax profit of GBP13.8 million, up from GBP10.4 million a year before, as revenue rose to GBP146.8 million from GBP134.4 million.
The company proposed a full year dividend of 16.4 pence, up from 14.5 pence a year before.
Alternative Networks said that acquisitions it made in 2014 have been integrated in its Advanced Solutions division, which now makes up more than 50% of the company's revenue. This division saw a particularly strong second half, and closed the year with a GBP5.2 million order backlog.
Its Mobile business performed well, increased its subscriber base by 9% and revenue by 5%, which helped offset a fall in Fixed Voice revenue. Fixed Voice now makes up 19% of the company's revenue down from 23% the year before.
"The improved profit performance in the second half of 2015, together with the high recurring revenue levels in the group, means that the Board approaches the coming year confident that the business can continue to generate good levels of growth in the future. The first weeks of the current financial year show signs that the momentum carried through the previous quarter is continuing and provides sound encouragement," said Chief Executive Mark Quatermaine in a statement.
Shares in Alternative Networks were up 8.1% at 437.85 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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