Technology firm KCOM Group Plc (KCOM.L) on Tuesday said profit in the year increased from last year, as expenses declined despite a fall in revenue.
For the year ended March 31, profit attributable to shareholders increased to 37.73 million pounds from 22.62 million pounds. Earnings per share grew to 7.13 pence from 4.26 pence.
Pre-tax profit climbed to 51.12 million pounds from 32.91 million pounds in the previous year.
Revenue declined to 387.32 million pounds from 395.41 million pounds. The company said growth from the strategic focus of the Group was offset by the residual decline in low margin, non-core activities.
Operating expenses dropped to 329.55 million pounds from 355.12 million pounds in the prior year.
Bill Halbert, Executive Chairman said "Based on another strong set of results, we are pleased to be recommending a final dividend of 2.67p per share, giving a full year dividend of 4.00p per share. We reiterate also our commitment to a minimum 10 per cent dividend growth in the coming year, reflecting the Board's confidence in future financial performance."
The Board expects the Group to continue to perform in line with market expectations in the current year.
The company said separately that following consultation with its largest shareholders, Bill Halbert would remain as Executive Chairman. Halbert, along with the other KCOM Group Board Directors, will stand for re-election at the AGM in July.
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by RTT Staff Writer
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