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Results announcement for the year ended 31 March 2019

Results announcement for the year ended 31 March 2019

KCOM Group PLC (KCOM.L) announces its full year results for the year ended 31 March 2019. The annual report and accounts for year ended 31 March 2019 are now available to view on KCOM Group PLC's website: www.kcomplc.com. The information provided below is in satisfaction of the requirements of Disclosure Guidance and Transparency Rule 6.3.5.
Summary
• Group revenue1 declined by 5%
•  Group EBITDA1,2,4 declined by 14%
•  Continued progress in Hull & East Yorkshire ― Roll-out of fibre across existing network complete 
 ― Percentage of broadband customers taking full fibre continues to increase
•  Ongoing challenges in two national businesses in line with revised expectations set at the half year ― Broadly flat revenue in Enterprise reflecting disappointing order intake performance 
 ― Revenue decline in National Network Services, due to continuing churn
•  Performance of the national businesses results in a non-cash exceptional impairment of goodwill of £51.4 million
• Increase in net debt to £107.2 million (2018: £62.6 million), driven by: ― Planned capital investment in Hull & East Yorkshire
― Material one-off working capital outflow as previously communicated in the first half of the year
 

Read the full final year results release here