KCOM Group PLC Trading Update (6933L)
July 21 2017 - 2:00AM
UK Regulatory
TIDMKCOM
RNS Number : 6933L
KCOM Group PLC
21 July 2017
21 July 2017
KCOM Group PLC (KCOM.L)
("KCOM or "the Company")
AGM Trading Update
Ahead of its Annual General Meeting to be held at the KCOM
Stadium in Hull later today, the company issues the following
trading update.
There has been an encouraging start to the current financial
year and the business is trading in line with our expectations.
Our fibre deployment in Hull & East Yorkshire remains on
schedule to reach 150,000 premises, representing approximately
two-thirds of our addressable market, by December 2017 and we
continue to see high levels of customer take-up. In Enterprise,
having strengthened our sales, delivery management and technical
capability, we are able to respond quickly to customer demand using
a scalable operating model that can expand as demand grows. We have
seen a number of new customers in the first quarter.
We continue to execute our stated strategic plans to create
shareholder value through a combination of the completion of fibre
roll-out in Hull and East Yorkshire, launching 'over the top'
services that build average revenue per user on top of existing
sustainable revenue streams and a focus on the Company's higher
growth, higher margin, capital light Enterprise business. The Board
is confident the transition of KCOM into a provider of regional
fibre-based services and complex IP solutions to the enterprise
market will in time drive a re-rating of the Company's
valuation.
As previously indicated, whilst we expect to make further
progress in both Hull & East Yorkshire and Enterprise, as we
transition away from commoditised services, we expect there to be a
decline in revenues and margins associated with our legacy
activities.
Subject to shareholder approval at today's Annual General
Meeting, and consistent with the Company's stated dividend policy,
the final dividend of 4.00 pence per share will be paid on 1 August
2017 to shareholders on the register as at 23 June 2017.
- ENDS -
For further information
please contact:
KCOM Group PLC 01482 602595
Bill Halbert, Chief Executive
Officer
Jane Aikman, Chief Financial
Officer
Cathy Phillips, Investor
relations
Tavistock Communications 020 7920 3150
Lulu Bridges / Niall Walsh
This information is provided by RNS
The company news service from the London Stock Exchange
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