Adept Release Results

Adept Telecom has announced their financial results for the year to 31st March 2014 to the Stock Exchange.

Financial Highlights Include:

•Eleventh consecutive year of increased underlying EBITDA up 8.3% to £4.04m (2013: £3.73m)
•12.8% increase to Profit Before Tax to £1.85m (2013: £1.64m)
•35.2% increase to Profit After Tax to £1.33m (2013: £0.98m)
•18.0% increase to Adjusted Basic Earnings Per Share of 14.99p (2013: 12.70p)
•100% increase to dividends declared to 3.0p (Interim 1.50p, Final 1.50p) (2013: 1.50p)

Ian Fishwick, CEO, commented “We are really pleased with a 27% rise in data connectivity revenues and a number of good wins in the Public Sector. We have completed two customer base acquisitions recently (Bluebell – August 2013 and Blue Cherry – April 2014) and continue to look for more acquisition opportunities.

Our shareholders have seen dividends doubled to 3p per share and we will continue to grow dividends over the next few years.

Call revenues now represent only a quarter of what we do so our exposure to falling call prices and volumes is now much reduced.

All in all it has been an extremely good year. The benefits of having a very stable and experienced management team are clear.”

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David Dungay

Editor - Comms Business Magazine