22 July 2005
At its Annual General Meeting today, Kingston Communications (HULL) PLC will provide an update on trading since its Preliminary results announced on 24 May.
The Group continues to build on the progress made last year.
Whilst still in its early phases, the integration of Omnetica and Technica remains on track with the newly-formed business, Affiniti, successfully securing new contract wins including SportsWorld, Britannic Asset Management, Gloucester Constabulary, Reuters, Glasgow Caledonian Open University and University of Dundee. At the same time all of the major customer contracts that fell due for renewal in the first quarter have been retained.
Broadband growth has continued during the quarter with the broadband customer base nearly doubling to 83,000 over the twelve months to June. We have launched new broadband pricing packages designed to drive further growth and announced new inclusive call tariff packages for our residential telephone service in East Yorkshire to enhance competitiveness and rebalance our revenues.
The completion of the disposal of the French business, Arche Communications SAS, in June for £32.5 million has further strengthened the Group’s cash position with the proceeds reducing net debt from the March year end level of £163.6 million.
Michael Abrahams, Chairman commented: “Profitability in the first quarter of the new financial year is in line with expectations. The integration of our business-to-business activities is proceeding well and will remain a key priority over the coming months.”
Kingston Communications will announce its Interim results for the six months ending 30 September on 29 November.
The Maitland Consultancy
020 7379 5151
Trade time: 16:35 BST
Total employees within the KCOM Group
Years of service to businesses and public