Shares of telecommunications services company AdEPT Telecom rallied after it recommended its first dividend payment and as it posted a 58 per cent surge in full year pre-tax profit.
Pre-tax profit rose to £1.19m in the year ended March 31 from £752,000 the same time a year earlier. Revenue for the year fell to £21.91m from £23.73m.
Adjusted earnings per share rose to 11.35p from 10.25p in 2011. Cash at March 31 rose to £1.869m from £1.36m in 2011.
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Commenting upon these results chairman Roger Wilson said: "AdEPT has delivered a ninth consecutive year of increased EBITDA and continued to deliver consistent free cash flow generation."
"Despite the continuing uncertainty over the general direction of the economy, the Board is confident that continued strong cash generation, and further reductions in the level of debt in future, should support a progressive dividend policy."
Net debt reduced by £2.1m year-on-year to £5.3m.
CJ
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