Shares of Gamma Communications Plc (GAMA.L) gained around 5 percent in the morning trading in London after the UK- based provider of communications services said its revenue and adjusted EBITDA, a key earnings metric, for the year 2014 is slightly ahead of the Board's original expectations.
The improvement reflects a strong demand in the business market for Gamma's portfolio of products. This positive performance was principally driven by growth in the number of channel partners in indirect business, significant contract wins in direct sales business, as well as continued strong growth in both Gamma SIP Trunks and active seats on Gamma's Cloud PBX services.
In its trading update, the company said its results will include exceptional items of 2.1 million pounds, including 1.3 million pounds of IPO costs and 0.6 million pounds due to the change in the fair value of contingent consideration relating to the Varidion acquisition. Share Based Payment charges will be 3.4 million pounds.
The Directors expect to propose a dividend in line with the policy that was stated in the Admission document.
The results for the full year are expected to be released in late March 2015.
In London, Gamma shares are currently trading at 266.66 pence, up 5.19 percent.
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