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KCOM Announces Preliminary results 2015/16

KCOM announced its unaudited preliminary results for the full year ended 31 march 2016

Highlights

  • Progress in all key focus areas leads to year on year growth
  • Important progress with our enterprise customers, increasing our services to HMRC and securing further new business including ATOC, BUPA and Shoosmiths
  • Accelerated fibre deployment and strong take-up, making ultra-fast broadband available in Hull and East Yorkshire. Approximately 150,000 premises will be passed by December 2017
  • Successful launch of single business under new KCOM brand
  • National network asset disposal for £90.0 million strengthening the balance sheet, supporting accelerated investment and underpinning medium term dividend commitment
  • Pre-exceptional EBITDA ahead of prior year at £74.9 million. Depreciation and amortisation from increased investment reduces pre-exceptional operating profit to £50.9 million (2015: £57.2 million). Reported operating profit is £91.8 million (2014: £22.4 million)
  • Adjusted basic EPS 7.54 pence (2015: 7.91pence)
  • Proposed final dividend of 3.94 pence (2015: 3.58 pence), resulting in full year dividend of 5.91 pence (2015: 5.37 pence). Dividend guidance of no less than 6.00 pence per annum for each of the next two financial years reiterated
  • Strong year end net funds position of £7.4 million, reflecting network sale proceeds and increase in net cash inflow from operations

Preliminary results press release 2015/16