KCOM on line

Hull-based telecoms firm KCOM Group has continued to dial up the right numbers since the start of its new financial year on April 1st.

The company is set to tell shareholders at its annual general meeting on Thursday that it is trading in line with expectations having made good progress against its longer term objectives, and expects its performance for the current financial year to reflect its focus on growth.

As expected, the group's Employee Benefit Trust has completed the acquisition of 7.3m shares in the first quarter of the year for a cash consideration of £5.1 m. These will be used to satisfy the firm's obligations relating to certain share incentive plans that will vest on July 24th.

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The group reconfirmed its commitment to bumping up the divi by at least 10% for the current financial year.

The share price rose 1.95% to 75.95p by 09:00.

NR