Alternative Networks proposes higher dividend after revenue growth
Alternative Networks is proposing a higher dividend as it saw solid growth for the year.
Alternative Networks
333.50p
16:54 22/12/16
Fixed Line Telecommunications
2,023.84
17:09 18/11/24
FTSE AIM 100
3,520.34
16:49 18/11/24
FTSE AIM 50
3,943.91
16:49 18/11/24
FTSE AIM All-Share
727.55
16:50 18/11/24
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.