Manx Telecom lifts underlying FY pre-tax profit and dividend in keeping with board's views
Manx Telecom has produced a marginally improved underlying pre-tax profit for the full year, and bumped its total dividend up, too.
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Chief executive Gary Lamb said 2016 was a solid year for Manx Telecom and that the company's result was in keeping with the board's expectations.
Manx's core business remained highly cash generative and there was growth across many parts of the company.
"Operationally it was a strong year with good take up of our broadband products; mobile returning to growth in H2 and strong growth in Global Solutions offsetting the expected declines in the Data Centre business," said Lamb.
"Looking ahead, we remain confident in the outlook for the group, reflected in our commitment to maintain our progressive dividend policy."
Lamb further said that Manx continued to generate strong cash flow, which enabled it to create value for shareholders and support our ongoing investment in the Isle of Man.
Underlying pre-tax profit was £16.3m, which was just above the preceding period's profit of £16.2m. The company's total dividend was 10.9p a share, up from 10.4p previously.
At 14:20 GMT, shares in AIM-listed Manx Telecom were up 0.51% to 196.5p.