KCOM Group reports solid financial performance in H1 2016

1 Dec 2015

UK-based KCOM Group has published its financial results for the six months ended 30 September 2015, posting a 3% year-on-year increase in total turnover to GBP177.9 million (USD276 million). EBITDA in the six-month period under review was also ahead of the corresponding period of 2014, at GBP37.2 million, up from GBP36.1 million. Reported profit before tax, meanwhile, stood at GBP24.2 million in H1 2016, compared to GBP23.6 million a year earlier. However, a 3% y-o-y decline in group profit before tax and exceptional items was said to reflect ‘higher depreciation and amortisation consistent with increased investment’.

Commenting on the company’s first half performance, Bill Halbert, KCOM Group chief executive, noted: ‘The Group has delivered improved performance across all target segments. The results are clear evidence of the potential of our strategy and of the level of opportunity we have in our chosen markets. Our focus on generating targeted organic revenue growth, coupled with further steps to simplify the operating structure of the business, places us in a strong position to create a single, unified and simplified business by the end of this financial year.’

United Kingdom, KCOM