Gamma Communications Plc (GAMA.L), a British provider of communication products and services, on Monday registered a rise in pre-tax income for the full year, supported by improved revenue, mainly from Gamma Business and Gamma Enterprise segments.
The Group said that it has appointed Investec Bank Plc to manage a share buyback program to purchase 35 million pounds of shares at 0.25 pence per share.
For the 12 month-period, the company posted a pre-tax income of 71.5 million pounds, higher than 64.9 million pounds in the previous year.
Excluding items, pre-tax earnings were at 97.9 million pounds, compared with 87.8 million pounds in 2022.
Net profit stood at 53.7 million pounds or 54.9 pence per share as against last year's 49.5 million pounds or 50.6 pence per share.
Adjusted profit was at 75.1 pence per share, higher than 71.8 pence per share a year ago.
Operating profit moved up to 67 million pounds from 65.4 million pounds last year.
EBITDA stood at 98.3 million pounds, compared with last year's 92.6 million pounds.
Adjusted EBITDA rose to 114.3 million pounds from 105.1 million pounds in 2022.
Revenue was 521.7 million pounds, up from the previous year's 484.6 million pounds.
Revenue from Gamma Business grew to 332.2 million pounds from 309.4 million pounds a year ago.
Gamma Enterprise recorded revenue of 110.1 million pounds, higher than the previous year's 102 million pounds.
Gamma Communications will pay a final dividend of 11.4 pence per share, higher than last year's 10 pence per share. This brings the total dividend for the year to 17.1 pence per share from the previous year's 15 pence per share.
The final dividend will be paid on June 20 to shareholders on the register as of May 31.
Looking ahead, for the full year, the company expects its earnings in line with the current market expectations for adjusted income per share of 75.8 pence to 86.3 pence, with adjusted EBITDA of 118.3 million pounds to 127.4 million pounds.
The annual capital spend is projected to be in the range of 22 million pounds to 25 million pounds.
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