10th Jul 2019 08:49
(Alliance News) - Gamma Communications PLC expects revenue to meet market expectations but earning per share are now anticipated to beat forecasts, after a positive first half of the financial year, the company said on Wednesday.
The communications services provider also expects its earnings before interest, tax, depreciation and amortisation to outperform market forecasts.
Chief Executive Andrew Taylor said: "I am delighted to announce that in the first half of 2019 we have continued to deliver strong revenue and gross profit growth across all business areas, representing a positive performance.
"I am very pleased with our continued focus on delivering against our near-term commitments, balanced against the execution of our longer-term strategy which was outlined at our capital markets day in January."
The company said that as of June 30, it had a cash balance of GBP44.6 million compared to GBP35.5 million from the end of December, a 25% rise.
The firm, which recently hiked its final year dividend payment after an 18% year-on-year revenue rise in 2018, said it expects to propose an interim dividend "in line with stated progressive policy".
In March, the company proposed a final dividend for 2018 of 6.2 pence per share, meaning it paid an aggregate dividend of 9.3p for that year, this was an 11% increase from the 8.4p total in 2017.
Shares in Gamma Communications were up 2.4% at 1,095.75 pence each in London on Wednesday morning.
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