Press release 16/03/2011
Newbury-based telecoms company Gamma Telecom has posted its full
year financial results for 2010.
The key headlines are:
- Underlying revenue increased by £6.6m (+5.6%).* Total revenue
was £126.2m.
- Gross profit percentage grew from 23.6% to 26.5% due to the
increased proportion of business coming from higher margin IP and
software based products.
- EBITDA increased from £6.5m to £7.9m (+21.5%). **
- Profit before tax was up from £2.3m to £3.9m (+69.6%).
- Net cash flow was up by 5% to £4.3m.
- The business is now demonstrating a consistent pattern of
positive cash generation - £12.5m over the last three years.
- At the end of 2010 the business had a positive Net Funds balance
of £2.8m.
- 46 new heads overall last year across the business. Total
headcount 290.
*excluding the full year impact of the loss of the Tiscali
contract following the sale of the business in July 2009
** Despite the loss of Tiscali
Bob Falconer, CEO of Gamma Telecom, commented, "2010 has been a
good year of progress for the Gamma group with every key area in
the business demonstrating solid improvement backed by a strong set
of financial results. Our customer base has widened and
strengthened, with a much reduced dependency on any single customer
and a rapidly growing contribution from our newer products such as
our Inbound suite of services which has exceeded our
expectations."
Falconer continues, "Looking ahead, we shall be driving forwards
with our investment programme, introducing a number of significant
new services for 2011 with the objective of continuing to give
Gamma Partners that extra edge in the marketplace. These include a
range of new data services; a new hosted platform; and, off the
back of our recently announced MVNA agreement with Vodafone UK, a
more comprehensive mobile offering that offers true FMC."
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