KCom posts increase in interim revenue and profit

Telecoms provider KCom Group posted an increase in interim pre-tax profit and revenue thanks to good performances across the board.

In the six months to the end of September, the London-listed group saw its pre-tax profit rise 2.54% year-on-year to £24.2m on the back of lower financing costs, although increased investment in the business drove amortisation and depreciation costs slightly higher in the period.

Revenue grew 2.83% year-on-year to £177.9m, the group said, adding revenue at its Kcom enterprise and SME-focused units advanced 4% and 2% respectively from the corresponding period in 2014.

KCom indicated it plans to continue its expansion plans and intends to invest in areas which will support profitable growth.

“Our focus on generating targeted organic revenue growth, coupled with further steps to simplify the operating structure of the business, places us in a strong position,” said group chief executive Bill Halbert.

The company lifted its interim dividend to 1.97p, 10% higher year-on-year and confirmed it will increase its total dividend for the year by 10%, maintaining the same rate of growth it reported in the last six years.

KCom shares were down 0.26% to 96.25p at 1144 GMT on Monday.