Alternative Networks proposes higher dividend after revenue growth

Alternative Networks is proposing a higher dividend as it saw solid growth for the year.

The business IT and communications service provider released a trading statement for the year to 30 September on Friday.

The company said its Advances Solutions division saw total orders signed up 4%, and expects revenue growth of at least 10%.

The company also increased market share in its mobile division with 9% growth in its subscriber base.

After strong cash generation the company also slashed net debt from a peak in January 2014 of £41m down to £18.7m (target £20m) down from peak level of £41m in January 2014.

As a result, the board intended to propose a dividend of at least 10% above the level of the ordinary dividend paid in 2014.

The company’s full results will be released on 9 December.