logo
Plus   Neg
Share
Email

TalkTalk Telecom FY Headline EBITDA Up 9.7% On Pre-IFRS 16 Basis

TalkTalk Telecom Group plc. (TALK.L) reported that its Headline EBITDA for the year ended 31 March 2020 grew 9.7% to 260 million pounds on pre-IFRS 16 basis from last year's 237 million pounds, driven by lower cost to serve due to a reduction in faults and contact centres calls as a result of an increase in more reliable Fibre connections.

Due to the disposal of Fibre Assets Business, resulting in a profit on disposal of 127 million pounds, annual statutory profit before tax was 131 million pounds or 146 million pounds on pre-IFRS 16 basis, compared to a loss of 5 million pounds on pre-IFRS 16 basis in the prior year.

Statutory revenue declined by 3.9% mainly due to declining Carrier revenue and lower non-Headline MVNO revenue as we wind down this business.

The Board has recommended a final dividend of 1.50 pence, same with last year.

Looking ahead to fiscal year 2021, the company said it remains in a robust operational and financial position, with levers in its control to manage costs further, whilst having not required any furlough or government assistance.

The company said it will not provide formal guidance, due to the uncertainties of COVID-19 pandemic. But, based on current trends, the company expects to deliver stable Headline EBITDA year on year, after assuming a about 15 million pounds COVID-19 impact.

The company also expects strong cash conversion and will therefore be maintaining the dividend at 2.5 pence.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Home Depot, Inc. is set to open three new distribution centers in Georgia over the next 18 months, which is expected to create an additional 1,000 new jobs in Greater Atlanta, including full-time and part-time positions. The home improvement retailer has already created more than 5,000 new jobs in Georgia over the last five years. Shares of BMW AG were losing around 5 percent in German trading after the luxury car maker reported Wednesday a loss in its second quarter, compared to prior year's profit as demand was hit hard by coronavirus pandemic. Looking ahead, the company said it is cautiously optimistic for second half of the year, and reaffirmed fiscal 2020 outlook. Billionaire Richard Branson's Virgin Atlantic has filed for Chapter 15 bankruptcy protection in the United States after being hit hard by travel restrictions due to the coronavirus pandemic. The process is part of the British airline's restructuring plan as it is seeking a 1.2 billion pounds rescue deal in the U.K. The airline also filed a proceeding in the high court in London for its restructuri
RELATED NEWS
Follow RTT