22nd Mar 2016 09:15
LONDON (Alliance News) - Gamma Communications PLC on Wednesday said pretax profit nearly doubled in 2015, mainly due to lower one-off costs, but underlying profit also grew on higher revenue.
The company, which provides cloud communications services to businesses, said pretax profit for the year to the end of December was GBP22.6 million, close to double the GBP11.5 million made a year earlier when it booked costs related to its 2014 listing in London.
Stripping those one-off costs out, pretax profit rose to GBP21.0 million from GBP16.7 million.
Revenue grew to GBP191.8 million from GBP173.2 million, up 11%, as customer installations grew across Gamma's SIP Trunks and Cloud PBX communications platforms. The group won key contracts in the year with housebuilder Taylor Wimpey PLC and lender Metro Bank PLC and made progress on winning deals from public sector clients.
Gamma will pay a final dividend of 4.4 pence per share, taking its total dividend to 6.6p, up 11% year-on-year.
Chief Executive Bob Falconer said the company will continue to invest in its product portfolio in 2016, with a new mobile service due to launch in June and will extend its network capability deeper into local areas, with a focus on London.
Gamma shares were up 2.2% to 444.73p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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