FTSE 250 communications services provider Kcom has published an interim management statement for the third quarter ending December 31st disclosing progress in the face of challenging market conditions.
In the update, which did not include any numbers, the company reported that public sector remained an important opportunity for the business's growth, adding that Kcom had secured a number of contract renewals which had further contributed to an increase in the company's multi-year order backlog.
The group reported that Kcom was named as the preferred bidder by East Sussex County Council to provide a hosted managed communications service on behalf of public sector organisations as part of the Link Consortium arrangement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
It further reported that Smart421 and Eclipse "continue to perform well in their respective markets".
Meanwhile, Kcom was described as making "a strong contribution to the quarter's performance".
Commenting on trading, Bill Halbert, Executive Chairman of KCOM group stated: "Market conditions continue to be challenging. The group has however continued to exploit successfully the opportunities that are there, with positive momentum across all brands.
"We remain confident about the quality of our business operations and their capacity to generate cash and reconfirm our commitment to a minimum 10% growth in the dividend in this financial year."
In the doghouse: hundreds of investment funds are underperforming - is it time to sell?
News The latest Spot The Dog research from Bestinvest reveals 151 funds are failing to beat their benchmark. We reveal the worst performers
By Marc Shoffman Published
Nationwide: House prices creep up for the first time in over a year
Nationwide’s latest house price index reveals property prices are finally rising. Will this pattern continue in 2024?
By Vaishali Varu Published