Group
By KCOM | 05 June 2018 - 2 min read
KCOM announces preliminary results 2017/18
KCOM announces its unaudited preliminary results for the full year ended 31 March 2018
Highlights
- Profit ahead of expectations despite lower revenue
- EBITDA1,2 up 1% year on year, driven by multi-year network rates rebate, higher margins and
strong cost control - Lower revenue reflects anticipated decline in National Network Services
- EBITDA1,2 up 1% year on year, driven by multi-year network rates rebate, higher margins and
- Good progress in Hull & East Yorkshire
- Revenue up 2% overall
- Strong performance in Consumer channel, revenue up 4%
- Full-fibre deployment on target to be available to 100% of addressable market by March 2019
- More customers taking broadband over full-fibre now than over copper
- Margin and profit improvement in Enterprise, despite 3% revenue decline
- Revenue affected by lower government spend, and previously identified software contracts
- Two software contracts now exited; customer relationship maintained with new business in place
- Strengthened management team driving momentum from cloud-based wins and renewals
- Revenue affected by lower government spend, and previously identified software contracts
- Statutory profit before tax increased by 11.5% reflecting lower level of exceptional costs partially offset by increased depreciation and amortisation
- Net debt2 increase reflects our capital investment, including continued investment in fibre
- Recommended final dividend of 4.00p, to deliver committed 6.00p per share dividend for the full year
- Existing dividend commitment extended to 2018/19 financial year