KCOM churning out cash
It is a case of steady as she goes for Hull based telecoms firm KCOM, which continues to trade in line with expectations.
It is a case of steady as she goes for Hull based telecoms firm KCOM, which continues to trade in line with expectations.
Not much has changed since the group's interim results announcement back in November, with the business still churning out cash, leading to a further reduction in net debt.
The firm said its initiatives to drive growth, including the roll out of fibre-based 100 megabytes per second (mbps) broadband within its East Yorkshire network area, continue to make progress.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
There was good news for income investors, as the board reiterated its commitment to deliver a minimum increase in the annual dividend of 10% in the current and next financial year, reflecting its confidence in maintaining current performance.
Market expectations are for full-year pre-tax profits of £49.64m, and the board said it currently expects to meet those expectations.
The shares were little changed on the brief trading update, just 0.4p higher at 71.4p.
jh
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
House prices rise 2.9% – will the recovery continue?
House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
By Katie Williams Published
-
Nvidia earnings: what to expect
Nvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
By Dan McEvoy Published