20th Mar 2015 09:49
LONDON (Alliance News) - Gamma Communications PLC Friday reported flat pretax profit for 2014 due to exceptional costs, but said its operating profit and revenue both rose and said it would pay its maiden interim dividend.
The business communications services company said its pretax profit for the year was flat at GBP11.5 million, pulled back by exceptional items related to its IPO on AIM in October, a small restructuring charge and a charge related to its acquisition of Varidion Ltd on 2012.
But stripping out the exceptional costs and its operating expenses for the year, the company's gross profit increased to GBP67.6 million from GBP53.9 million, a 25% rise, as revenue rose to GBP173.2 million from GBP148.7 million and its gross profit margin improved to 39% from 36.2%.
The company said it saw good growth in its channel partner network, along with robust growth in direct sales.
In addition, the company said it would pay its maiden final dividend of 3.95 pence per share.
Gamma shares were up 0.4% to 271.00 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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