Gamma Telecom has posted its full year financial results for 2010 with the key headlines being: underlying revenue increased by £6.6m (+5.6%) to £126.2m, gross profit percentage grew from 23.6% to 26.5% due to the increased proportion of business coming from higher margin IP and software based products and EBITDA increased from £6.5m to £7.9m (+21.5%)
Profit before tax was up from £2.3m to £3.9m (+69.6%), net cash flow was up by 5% to £4.3m and the company says the business is now demonstrating a consistent pattern of positive cash generation – £12.5m over the last three years and at the end of 2010 the business had a positive Net Funds balance of £2.8m.
Bob Falconer, CEO of Gamma Telecom, commented, “2010 has been a good year of progress for the Gamma group with every key area in the business demonstrating solid improvement backed by a strong set of financial results. Our customer base has widened and strengthened, with a much reduced dependency on any single customer and a rapidly growing contribution from our newer products such as our Inbound suite of services which has exceeded our expectations.
Falconer continues, “Looking ahead, we shall be driving forwards with our investment programme, introducing a number of significant new services for 2011 including a range of new data services; a new hosted platform and a more comprehensive mobile offering that offers true FMC; all with the objective of continuing to give Gamma Partners that extra edge in the marketplace.”