30th Mar 2016 07:59
LONDON (Alliance News) - Isle of Man-based telecommunications services company Manx Telecom PLC on Wednesday said its pretax profit grew significantly in 2015 thanks to lower capital expenditure costs.
Manx said its pretax profit for the year to the end of December grew to GBP16.6 million from GBP5.7 million a year earlier, mostly due to the company having booked a one-off finance charge related to previously-capitalised transaction charges in 2014 and due to lower capital spending, which fell to GBP7.9 million in 2015 from GBP12.4 million in 2014.
Revenue grew 0.4% to GBP79.6 million form GBP79.3 million, as growth in fixed line, broadband, data and mobile revenue, plus a good performance for its data centres business, was offset by lower sales in its Global Solutions business, hit by lower SMS termination revenue.
Manx said it will pay a 6.9 pence final dividend, up from 6.6p, taking its total dividend to 10.4p per share from 9.9p.
"I am pleased to report a solid performance for the full year which was in line with the board's expectations," said Chief Executive Gary Lamb.
"Looking ahead, we remain confident in the outlook for the group, reflected in our commitment to maintain our progressive dividend policy," he added.
Manx shares were up 2.1% to 217.50p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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