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Gamma Communications expects full year earnings to reach top end of market forecasts

“We are pleased that Gamma has continued to grow strongly in the UK while simultaneously increasing our addressable market by expanding into Continental Europe,” said chief executive Andrew Taylor

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Strong UK demand led to “significantly” higher revenue and earnings per share in 2018

Gamma Communications PLC (LON:GAMA) shares advanced on Monday after saying it expects earnings for the year to reach the top end of the range of consensus forecasts.

The company, which supplies broadband and data connections, mobile services, fixed telephony and hosted phone systems, said strong demand in the UK led to “significantly” higher revenue and earnings per share in the year to the end of December 2018.

The group also reported progress in its expansion into Continental Europe with the acquisition of telecoms firm Dean One in the Netherlands in October last year.

Dean One announced a strategic partnership with T-Mobile in the Netherlands in December and launched a mobile wholesale proposition across the Dutch market.

“We are pleased that Gamma has continued to grow strongly in the UK while simultaneously increasing our addressable market by expanding into Continental Europe,” said chief executive Andrew Taylor.

Taylor said the group continued to grow its market share in its online and cloud phone exchange systems (PBX). In March, the company will launch Collaborate, a unified communications product that will be available as a bolt-on module to the Horizon cloud PBX product.

READ: Gamma Communications shares race to a first-day premium

Gamma said it ended the year with a net cash balance of £35.5mln, compared to £31.6mln last year.

In morning trading, shares rose 1.7% to 810p. 

Quick facts: Gamma Communications

Price: 1205 GBX

AIM:GAMA
Market: AIM
Market Cap: £1.14 billion
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