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Annual Results

AdEPT earnings rise

05 July 2016 07:32

AdEPT reports its 13th consecutive year of increased underlying EBITDA up 34.0% to £6.15m in the year to the end of March.

Revenue increased by 30.8% to £28.9m (2015: £22.1m) and underlying EBITDA margin increased to 21.3% from 20.8%.

Profit before tax rose by 28.7% to to £2.8m and basic earnings per share rose to 8.78p (2015: 6.90p) and a 36.8% increase to dividends declared to 6.50p (Interim 3.00p, Final 3.50p) (2015: 4.75p).

Chairman Roger Wilson said: "AdEPT has delivered its 13th consecutive year of increased underlying EBITDA through a combination of strategic acquisition and organic contract wins and the Group continues to deliver consistently high levels of free cash flow generation. The continued strong cash generation has funded a 37% increase to dividends declared during the year and the Board is confident that continued focus on underlying profitability and cash generation will support a progressive dividend policy.

"Organically the Company has strengthened its position during the year through successfully gaining approved status on further public sector frameworks, which have been leveraged to increase the scale of its public and healthcare sector customer base. The new larger debt facility put in place in April 2015 was partially used by the Company to complete the acquisition of Centrix Limited in May 2015, which has been complemented by a further acquisition of another unified communications provider, Comms Group UK Limited post year end in May 2016.

"The Company has continued its transition towards a complete managed service provider, with revenue from managed services accounting for more than 44% of the total in the year ended 31 March 2016."

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Related Company: ADT

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