Alternative Networks on track to meet annual forecast

Alternative Networks said it was on track to meet full-year expectations as its Advanced Solutions consultancy division saw sales rise in the second quarter.

Alternative Networks said it was on track to meet full-year expectations as its Advanced Solutions consultancy division saw sales rise in the second quarter.

The UK provider of telephony services including voice, mobile, systems and IT solutions, reported cash balances over £15m at the end of March 2013 in a trading statement Friday ahead of the company's half-year results.

Results were driven by an increase in the order book of Advanced Solutions which is expected to report a greater weighting of revenues in the second half of the year.

"The pipeline continues to grow and is at record levels, giving confidence in results for the full year," the group said.

However, network revenue was affected by competitive and regulatory pressures with a slowing of growth in mobile subscribers in the last six months.

Nonetheless, mobile subscribers increased 10% and a record number of customers renewed their contracts with Alternative.

The company reiterated its intention to pay a dividend of no less than 12.65p per share for 2013.

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