13th Jul 2016 08:41
LONDON (Alliance News) - Manx Telecom PLC Wednesday said trading in the first half of 2016 was in line with its expectations, with revenue "marginally behind" the previous year.
This was due to an expected reduction in low-margin kit sales, the Isle of Man communications company said.
Earnings before interest, tax, depreciation and amortisation performance were in line with the previous year and free cash flow grew, Manx said.
Its core domestic business of fixed line, broadband, data and mobile performed solidly. Its 4G network continued to perform well, with adoption rates continuing to grow steadily across both its pay as you go and contract bases.
However, it saw lower revenue in its data centre business due to the decline in kit sales and a decline in usage caused by some customers consolidating.
Shares in Manx were down 2.0% at 192.60 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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