3rd Oct 2013 07:12
LONDON (Alliance News) - Alternative Networks PLC Thursday said second half revenue is expected to be up by around 3% on the same period last year, as trading returned to growth.
In a trading statement, the telephone and IT solution providers said market share in mobile network services increased in the second half, with 4,200 new connections resulting in mobile subscribers of over 81,400 as of September 30.
"This represents full-year growth in connections of 5% due to both lower subscriber churn and some significant customer wins in the third quarter" the firm said.
As a result mobile revenue is expected to be up 3% on the prior year.
Alternative Networks said cash flows remains "strong", with cash balances of GBP17.1 million at the end of September.
The company also said it is still considering both further returns of surplus cash balances to shareholders and potential earnings-enhancing acquisitions.
Alternative Networks shares were quoted early Thursday at 348.00 pence per share, up 13.00p or 3.9%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
AN..L