KCom FY profit halves; says current trading in line

20 May 2008

Hull-based telco KCom Group posted a 58.5% drop in full-year profit, hit by reduced returns from its Integration & Managed Services (IMS) segment and other acquisition-related charges, but said it is well positioned for the future, with current trading in line with expectations. For the year ended 31 March 2008 the company reported a pre-tax profit of GBP4.4 million (USD8.6 million) compared with GBP10.6 million a year earlier, while revenues rose 7.1% to GBP517.3 million. The group’s performance was buoyed by its Telecom and Internet Services business, which supplies smaller companies and individuals and includes internet service provider Karoo. It saw a 9.7% increase in revenue from GBP222.7 million in 2007 to GBP244.4 million this year.

United Kingdom, KCOM