KCOM Group today announces its trading update for the period 1 April to 19 July, ahead of its Annual General Meeting at 11am.
Since its preliminary results announcement in May, the Group has continued to perform well, making good progress against its longer term objectives and the Board confirms that trading continues to be in line with expectations. Our focus remains on executing our growth strategy and we expect the performance of the Group to reflect this during the current financial year.
As anticipated, the Group’s Employee Benefit Trust has completed the acquisition of 7.3 million shares in the first quarter of the year for a cash consideration of £5.1 million. These will be used to satisfy the Group's obligations in respect of certain share incentive plans that will vest as at 24 July 2012.
Subject to shareholder approval at today’s AGM, the Group will be paying a final dividend of 2.67p (2011: 2.50p) to shareholders who were on the share register on 29 June. This brings the total dividend for the year to 4.00p per share, an increase of 11 per cent year on year. Payment of the final dividend will be made on 27 July 2012 and we reconfirm our commitment to delivering a minimum ten per cent increase in dividend for the current financial year.
The KCOM Group delivers communications services to a range of businesses and consumers, with an emphasis on exceptional service delivery.
Its Kcom business provides communications services for national multi-site enterprise and public sector organisations across the UK. As an independent provider of these services, supported by its BT Wholesale partnership, Kcom is able to offer advanced network capability and related added value services, coupled with a flexible approach to delivering its customers' requirements.
Its KC business provides a range of communications services to businesses and consumers in Hull and East Yorkshire. Eclipse Internet delivers a portfolio of internet based communications services. These are designed to help small businesses and home based workers to exploit the power of the internet to achieve business success.
Bill Halbert, Executive Chairman / Paul Simpson, CFO
KCOM Group PLC
020 7422 8707
Cathy Phillips, Investor Relations
KCOM Group PLC
Jon Coles/Aideen Lee
020 7404 5959
Trade time: 16:35 BST
Years of service to businesses and public
Total employees within the KCOM Group