Gamma Communications EBITDA set for 'top range' of expectations
By Iain Gilbert
Date: Monday 14 Jan 2019
(Sharecast News) - Gamma Communications expects full-year EBITDA to be at the top of the range of market expectations as a result of a continued solid performance in the UK.
The technology-based communications service told investors on Monday that strong demand for its portfolio of products and services across the British business market had also led to revenue and adjusted EPS growing in line with consensus expectations, and significantly over the prior year.
Gama picked up further market share in its SIP Trunking and Cloud PBX services - partly due to its first overseas expansion into the Netherlands with its acquisition of Dean One in October 2018.
The AIM-listed firm, which expects to announce its fully audited results for the year ended 31 December on 12 March, said it had seen its cash balance increase 12.3% to £35.5m.
Chief executive Andrew Taylor said: "We are pleased that Gamma has continued to grow strongly in the UK while simultaneously increasing our addressable market by expanding into Continental Europe."
"Both our indirect and direct businesses continue to grow very well, with the latter performing strongly in the enterprise and public sectors."
As of 0900 GMT, ITM Power shares had slipped 2.87% to 20.98p.
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