Group By KCOM | 27 November 2018 - 2 min read

KCOM Announces interim results 2018/19

KCOM Group PLC (KCOM.L) announces its unaudited interim results for the six months ended 30 September 2018.

Key points

Group revenue¹ declined by 5%
Group EBITDA¹ up by 2%
Hull & East Yorkshire continues to perform well and in line with market expectations
- Full-fibre deployment remains on target to be available to 100% of addressable market by March 2019
- Percentage of broadband customers taking full-fibre continues to increase
Poor performance in national business segments driven by:
- Revenue decline in NNS, due to continuing churn
- Broadly flat revenue in Enterprise reflecting disappointing order intake performance
NNS performance results in non-cash exceptional impairment of goodwill of £32.2 million
Increase in net debt to £108.5 million (1.6x net debt: EBITDA), driven by:
- Capital investment in Hull & East Yorkshire segment
- Material working capital outflow, due to insourcing a managed service arrangement and unwind of deferred revenue balances in Enterprise
Interim dividend of 1.00p (2017: 2.00p), reflecting Board’s previously announced decision to revise full year dividend commitment to a minimum of 3.00p per share