AdEPT Telecom plc, formerly AdEPT Telecom, is a United Kingdom-based company providing voice and data telecommunications services to both domestic and business customers. The Company provides fixed line calls, line rental, mobile and data connectivity products to thousands of business and residential customers across the United Kingdom. The Company offers a range of business telecom products for all sizes of business. AdEPT's Inbound Call Handling services offer a way to manage inbound calls, with online access enabling customers to implement changes instantly. AdEPT broadband products offer unlimited downloads and Internet speeds of up to 16 megabits, 50 megabits of Webspace. As at March 2010, AdEPT has completed the acquisition and integration of 16 telecom businesses, all of which have been integrated and trade under the AdEPT Telecom brand

http://www.adept-telecom.co.uk/data-connections/data-quote-tool

We maintain our BUY rating and set a new price target of 145p


http://www.proactiveinvestors.co.uk/columns/northland-capital-partners-view-on-the-city/13763/northland-capital-partners-view-on-the-city-adept-telecom-and-regency-mines-13763.html

Ex dividend Wed 18 Sept 0.75p

Result of AGM

RNS


RNS Number : 9808O

AdEPT Telecom plc

26 September 2013




AdEPT Telecom plc

("AdEPT Telecom" or the "Company")



AdEPT Telecom is pleased to announce that at the Annual General Meeting ("AGM") of the Company held at 10.00am today, all the proposed resolutions were duly passed.



Roger Wilson, Chairman of AdEPT Telecom, commenting at the Company's AGM said:



"AdEPT has delivered a tenth consecutive year of increased EBITDA. Continued deleveraging from consistent free cash flow generation has been used to finance the 200% increase to dividends during the year ended 31 March 2013 and subsequently the recent acquisition of business customers from Bluebell Telecom Limited."



For further information on AdEPT Telecom please visit www.adept-telecom.co.uk or contact:

Looking for a re-entry price, once the dust settles with the markets.

3 Oct Northland... 145.00 Buy

AdEPT Telecom still looking for acquisitions
By Charlotte Kan November 01 2013, 8:24am


Roger Wilson, chairman of AdEPT Telecom (LON:ADT), a provider of voice and data network services, told Proactiveinvestors the company is still seeking acquisition opportunities and will pursue its "very progressive" dividend policy.


http://www.proactiveinvestors.co.uk/companies/stocktube/2294/-adept-telecom-still-looking-for-acquisitions-2294.html

Trading Update & Acquisition

RNS


RNS Number : 2759E

AdEPT Telecom plc

08 April 2014




AdEPT Telecom PLC

("AdEPT" or the "Company")

Trading Update and Acquisition

AdEPT Telecom plc, one of the UK's leading independent providers of voice and data telecommunications solutions, today announces a trading update for the year ended 31 March 2014 (ahead of its final results which are expected to be announced in early July 2014) and details of the acquisition of Bluecherry Telecom Limited.

Trading performance

The Company is pleased to announce that it anticipates that underlying EBITDA will be ahead of the previous year and in line with the market expectations of an 8% rise year-on-year. Adjusted* profit before tax is expected to be ahead of the prior year and in line with market expectations. Turnover is expected to be in line with the previous year but slightly below market expectations.

* adjusted for amortisation and share option costs

Cash flow and net debt

The reduction in net borrowings was ahead of market expectations. Net borrowings reduced by £0.3m in the year to £3.0m as at 31 March 2014. AdEPT continues to generate consistently strong cash flow. This reduction in debt is after payment of (i) the deferred consideration for the acquisition of customer contracts from Expanse Communications (UK) Limited and Bluebell Telecom Limited, (ii) 18 months corporation tax following the transition to large company status for tax purposes and (iii) a 200 per cent. increase in dividends.

Dividends

AdEPT announced an interim dividend of 1.50p per share in its September 2013 interim statement, which will paid to shareholders on 11 April 2014. The Board today announces that it recommends a final dividend of 1.50p (2012: 0.75p) per Ordinary Share which, subject to Shareholder approval at the Annual General Meeting later in the year, will be paid in October 2014. Total dividends declared during the year ended 31 March 2014 of 3.00p per Ordinary Share represent a 100 per cent. increase year-on-year (2012: 1.50p).

Acquisition

AdEPT has c20,000 customers. The 1,000 largest customers equate to about half of the revenue and the 19,000 smaller customers the other half. Our strategy is to concentrate our organic sales efforts on attracting larger customers, particularly in the public sector. Rather than operate a telesales operation aimed at acquiring smaller business customers we instead use our cash generation to buy customer bases from other telesales operations in the industry. Our smaller in-fill acquisitions are therefore simply an alternative to sales and marketing spend.

The Board of AdEPT is pleased to announce another small, partly in-fill, acquisition. We have signed an agreement to acquire the share capital of Bluecherry Telecom Limited ("Bluecherry") for an initial consideration of £1.8m plus the value of the net assets at completion (estimated to amount to £0.25m and being represented by cash), payable in cash. Further consideration of between £0.2m and £0.75m will be payable, also in cash, dependent upon performance of the contracts post-acquisition. The total consideration will be funded out of AdEPT's existing bank facilities. The business customers of Bluecherry complement the AdEPT portfolio as they are all UK-based fixed-line telecom business customers taking communications products including lines, calls and broadband services. Management of the Bluecherry contracts will be transferred to AdEPT's office in Tunbridge Wells, Kent during April 2014. Based on recent management accounting information, annualised revenue and EBITDA of Bluecherry is approximately £1.2 million and £0.45 million respectively.

AdEPT Telecom’s (LON:ADT) acquisition of Blue Cherry Telecom fits its recent pattern of deals and should be earnings enhancing said Northland.

It acquires existing customer bases in the fragmented reseller market and transfers accounts over to its own billing systems in a highly efficient manner. AdEPT has repeated the exercise several times and will typically take on few, if any staff, with the acquisitions.

Results were in line the broker’s expectations and the rating remains ‘buy’ with a 165p price target.



http://www.proactiveinvestors.co.uk/columns/broker-spotlight/15877/broker-spotlight-lonmin-hsbc-hikma-pharma-gemfields-petroceltic-adept-telecom-15877.html

THE BIG PICTURE - AdEPT Telecom trading at ‘unwarranted discount’ to peers

By Jamie Nimmo

April 09 2014, 11:02am
Northland Capital has a target price of 165p on the stock



AdEPT Telecom’s (LON:ADT) share price has been as robust as ever, but there are some voices from the City still claiming the group is undervalued.

Among them is broker Northland Capital, which has a 165p target price on the AIM-listed telecoms company – some 35p above the current price.

Analyst David Johnson’s basis for the ‘buy’ recommendation is that the shares are trading on an “unwarranted discount to other quoted non-network owning peers”.

The stock is currently priced at 10.3 times earnings for next year and the year after, with the yield increasing from 3% to 3.7% respectively.

This is based on Johnson’s upgraded forecasts following yesterday’s trading statement, which confirmed the company is continuing to convert profits into cash, which is going towards paying down debt, its dividend policy, and customer contract acquisitions.

The firm has just splashed out an initial £1.8mln on Bluecherry Telecom, with the fee rising based on future performance.

Bluecherry has annualised revenues of £1.2mln and underlying earnings (EBITDA) of £450,000. The acquisition is expected to be earnings enhancing next year.

“Our strategy is to concentrate our organic sales efforts on attracting larger customers, particularly in the public sector,” AdEPT explained.

“Rather than operate a telesales operation aimed at acquiring smaller business customers we instead use our cash generation to buy customer bases from other telesales operations in the industry.

“Our smaller in-fill acquisitions are therefore simply an alternative to sales and marketing spend.”

The acquisition fits in with that strategy and eliminates the need for a large telesales operation to secure smaller customers as chief executive Ian Fishwick explains.

“We use the cash generation every now and again to buy a customer base because we’re set up to integrate them. This is the 19th integration we’ve done over the last 11 years,” he said.

“It’s [Bluecherry] a telesales operation that we like – we like the way they behave. The product set they’re selling is easy for us to integrate – if they were selling things we didn’t have, then we’d think twice about doing it so it’s a relatively easy one for us to do.”

Fishwick added: “We’re looking at these deals constantly. We must turn down six or seven for every one we do. It’s a way of life for us; we do it all the time.”

In Tuesday’s trading update, the company said it expects EBITDA to register an 8% rise from last year, while turnover is likely to be a little lower than previously anticipated.

Notably, it will be the eleventh consecutive year the company has announced record underlying EBITDA.

The group said its borrowings had reduced by a greater than expected £300,000 to £3mln as it continues to generate consistently strong cash flows.

The final dividend will be 1.5p, double the amount it paid out at the same time last year, making a total dividend for the year of 3p.

“We can see there are few dividend payers on AIM,” Fishwick continues.

“Now that AIM’s attractive to ISA holders, when you add in a good dividend yield in as well, clearly that makes us fairly unusual on AIM.”

Automation plays a key role in the company’s high margins. Its sales staff are the highest-earning per head in the industry – it makes almost £500,000 per employee compared with a sector average of £168,000 or £250,000 for a top quartile provider.

The business telecoms market is made up of 700 small communication providers (compared with a handful in the residential market) and at around £28mln, Adept is one of the larger players.

The company’s full-year results are expected to be released in July.

Final Results

RNS


RNS Number : 6664L

AdEPT Telecom plc

08 July 2014




AdEPT Telecom plc



("AdEPT" or the "Company")



Final results for the year ended 31 March 2014



AdEPT (AIM: ADT), a leading UK independent provider of award-winning telecommunications services for fixed line, mobile, data connectivity and VoIP, announces its results for the year ended 31 March 2014.

Financial Highlights

· Eleventh consecutive year of increased underlying EBITDA up 8.3% to £4.04m (2013: £3.73m)

· Underlying EBITDA margin % increased by 1.6% to 19.4% (2013: 17.8%)

· 12.8% increase to Profit Before Tax to £1.85m (2013: £1.64m)

· 35.2% increase to Profit After Tax to £1.33m (2013: £0.98m)

· 18.0% increase to Adjusted Basic Earnings Per Share of 14.99p (2013: 12.70p)

· 100% increase to dividends declared to 3.0p (Interim 1.50p, Final 1.50p) (2013: 1.50p)

· Cash generation with free cash flow, after interest, of £2.6m (2013: £3.0m)

· Net debt reduction of £0.3m year-on-year to £3.0m (2013: £3.3m)

· Total interest costs reduced by 30.4% to £0.26m (2013: £0.37m)

Operational Highlights

· 26.9% increase to data connectivity and broadband revenues year-on-year

· Acquisition of customer base from Bluebell Telecom Limited completed in August 2013



Commenting upon these results Chairman Roger Wilson said:



"AdEPT has delivered its eleventh consecutive year of increased EBITDA and continues to deliver consistent free cash flow generation. The Company has achieved a reduction to net borrowings despite undertaking a customer base acquisition during the year, with a further acquisition completed and fully integrated post year-end. The continued strong cash generation has funded a 100% increase to dividends declared during the year. The Board is confident that continued focus on underlying profitability and strong cash generation will support a progressive dividend policy. Organically the Company has strengthened its position through successfully leveraging its various frameworks to increase the scale of its public sector customer base."

AdEPT Telecom doubles dividend as cash rolls in

By Philip Whiterow

July 08 2014, 8:12am
Adept, which is a re-seller and has no infrastructure itself, specialises in supplying large public sector customers.
Adept, which is a re-seller and has no infrastructure itself, specialises in supplying large public sector customers.


Telecoms services supplier Adept Telecom (LON:ADT) celebrated its eleventh year of higher underlying profits by doubling its dividend.

Roger Wilson, chairman, said strong cash flow funded the higher payout, adding he was confident the focus on underlying profitability would support further increases in the future.

Underlying profits [EBITDA] rose by 8% to £4mln in the year to March despite a small decline in revenues to £20.9mln. Pre-tax profits rose by 13% to £1.85mln.

Adept, which is a re-seller and has no infrastructure itself, specialises in supplying large public sector customers with a full range of telecom requirements.

Its recent strategy has been to acquire customer bases through the acquisition of smaller rivals, which the focus on building its data and broadband side as fixed line revenues decline.

Revenues were also affected by a reduction in the mobile termination charge with fixed line revenues of £15.7mln (£16.8mln), offset partly by a 27% rise in data and broadband.

“The business focus for the coming year remains on continued development of organic sales through leveraging AdEPT's approved supplier status on the various telecom frameworks, maintaining profitability and cash flow generation, which will be used to reduce net borrowings and/or fund suitable earnings-enhancing acquisitions if identified,” it said.

The dividend for the year rises to 3p.

Shares - Adept Telecom's dividend could double over the next three years to 6p per share, according to stockbroker WH Ireland. It says the telecom services provider, trading at 120.5p, is highly cash generative as it doesn't own any major telecoms infrastructure, so there's low levels of capital expenditure.

EX-Dividend Wed 17 Sept 1.5p

UPDATE - AdEPT Telecom celebrates extension of council framework agreement

By John Harrington

October 14 2014, 12:26pm
UPDATE - AdEPT Telecom celebrates extension of council framework agreement

---ADDS BROKER COMMENT AND SHARE PRICE---

AdEPT Telecom (LON:ADT) has been awarded an extension to the public sector telecom framework it has with the Eastern Shires Purchasing Organisation (ESPO).

The telecom framework has been extended for a further two years until the end of October 2016.

Under this framework agreement AdEPT is the sole recommended supplier of landlines, broadband, session Internet protocol and Internet connectivity to the public sector and not for profit organisations nationwide.

Ian Fishwick, chief executive of AdEPT Telecom said that in the first two years of the ESPO agreement, 20 councils moved their service to AdEPT.

“This has made AdEPT one of the fastest growing suppliers in this part of the public sector market,” Fishwick said.

Picking up that theme, broker Northland Capital Partners said the public sector has been a good source of new business for AdEPT Telecom over the past few years and is likely to continue to provide further opportunities in the years to come.

“As well as ESPO, AdEPT was awarded approved supplier status to the Crown Commercial Services (central government bodies) in FY14 and is a long standing supplier under the Ja.net framework, whereby it can sell data connectivity and networks to UK Universities and Colleges,” the broker noted, adding that public sector revenue represented 11.9% of total revenue at the end of fiscal 2014, up from 4.5% a year earlier.

“We anticipate further growth this year as revenues ramp up in signed contracts and new contracts are secured,” AdEPT’s nominated adviser added, as it reiterated its ‘buy’ recommendation and 165p price target.

Shares in AdEPT were down 1.5p at 110p in lunchtime trading.

Contract renewal

RNS


RNS Number : 0372W

AdEPT Telecom plc

04 November 2014




AdEPT Telecom plc

("AdEPT" or the "Company")



AdEPT'S LARGEST CUSTOMER RENEWS FOR 3 MORE YEARS



AdEPT Telecom plc is pleased to announce that our largest customer has renewed their contract for another 3 years. The contract value is anticipated to be around £2.2 million.



Ian Fishwick, Chief Executive, said: "This is the third time that our largest customer has renewed their contract and it will extend our relationship to 9 years. Our largest customer has over 400 sites across the UK and this renewal is great testament to the fantastic level of service that we offer our multiple site customers."

Half Yearly Report

RNS


RNS Number : 5309W

AdEPT Telecom plc

11 November 2014






AdEPT Telecom plc



("AdEPT" or the "Company")



Interim results for the 6 months ended 30 September 2014



AdEPT, one of the UK's leading independent providers of award-winning landline voice and data connectivity telecommunications services, VoIP and mobile networks, announces its results for the 6 months ended 30 September 2014.



Highlights



· Total revenue increased by 11.3% to £11.3 million (2013: £10.2 million)

· EBITDA increased by 12.7% to £2.36 million (2013: £2.09 million)

· EBITDA margin increased to 20.8% (2013: 20.6%)

· Adjusted profit before tax increased by 13.9% to £2.2 million (2013: £1.9 million)

· Adjusted EPS increased by 12.2% to 8.38p (2013: 7.47p)



· Interim dividend increased by 50% to 2.25p per share (2013: 1.50p)



· Free cash flow increased by 29.1% to £2.2 million (2013: £1.7 million)

· Gearing down to 29% (2013: 38%)

· Net debt, after £2.1m acquisition payments, reduced by £0.7 million in the last 12 months to £3.2 million (2013: £3.9 million)



· Next generation services revenue increased by 29.0% to £3.0 million (2013: £2.4 million)



Business review

Total revenue increased by 11.3% through a combination of organic new contract wins, particularly in the public sector, and acquisitions. AdEPT is continuing to successfully make the transition from a traditional fixed line service provider to a complete communications integrator offering best of breed products from all major UK networks. Revenue from next generation services, including data connectivity, network solutions and cloud-based contact centre solutions increased by 29.0% to 26.8% of total revenue for the six months ended 30 September 2014 (September 2013: 23.2%). The demand for faster data connectivity speeds has continued and this is being achieved through a wider data connectivity service offering, including 10Gb, 40Gb and 100Gb Optical Spectrum Services (OSEA) data connectivity solutions under the Ja.Net framework for universities and colleges.



AdEPT has had continued success in the public sector space during the period winning a number of new contracts with councils within the public sector. Over the last 18 months AdEPT has been successful in gaining new contracts with more than 20 councils as a result of its various public sector framework agreements. In July 2014, the Company renewed the Ja.net framework agreement under which AdEPT is one of only a small number of companies approved to sell data connectivity and networks to UK universities and colleges. Shortly after the period end, in October 2014, the Eastern Shires Purchasing Organisation awarded AdEPT a two year extension to its sole supplier Telecom Framework to local government for calls, lines, broadband, super-fast broadband (fibre), data connectivity and SIP trunks. AdEPT is also an approved supplier under the Telephony Services Framework by Crown Commercial Service, the purchasing arm of the Cabinet Office. Approved supplier status under these framework agreements gives the Company authority to provide services to both local and central government bodies.



Financing

Free cash flow (cash generated from operations after interest) amounted to £2.2 million, representing an increase of 29.1% (September 2013: £1.7 million). £1.8 million of available funds was used to fund the initial cash consideration for the acquisition the issued share capital of Bluecherry Telecom Limited on 8 April 2014. These interim results include a full 6 month contribution from the acquisition of the entire issued share capital of Bluecherry Telecom Limited (further details are included in Note 6). In addition, a further £0.3 million was used to fund part of the deferred consideration in relation to the acquisition of certain trade and assets from Bluebell Telecom Limited which was announced on 6 August 2013.



Net debt and gearing

Net borrowings have been reduced by £0.7 million during the last 12 months, despite £2.1 million acquisition payments. Net borrowings at 30 September 2014 were £3.2 million (September 2013: £3.9 million).

This resulted in a reduction in gearing to 29% (September 2013: 38%).



Profit before and after tax

Adjusted profit before tax (adding back non-cash amortisation) increased by 13.9% to £2.2 million (September 2013: £1.9 million) arising entirely from the improved operating profit. Reported profit after tax increased by 11.9% to £0.8 million (2013: £0.7 million).



Earnings per share

Adjusted (basic) earnings per share has increased 12.2% to 8.38p for the six months ended 30 September 2014 (September 2013: 7.47p) as a result of the £0.27 million increase to EBITDA.



Dividends

The Directors have declared an interim dividend of 2.25p per Ordinary Share in respect of the year ending 31 March 2015, an increase of 50% over interim dividend for the comparative period (September 2013: 1.50p). This will absorb approximately £0.50 million of shareholders' funds (September 2013: £0.32 million). It is proposed by the Directors that this dividend will be paid on 10 April 2015 to shareholders who are on the register of members on the record date of 20 March 2015. Subject to the audited results for the year ending 31 March 2015, it is the intention of the Board to look to propose a final dividend with the March 2015 final results.



Strong free cash flow generation has continued since the end of the period, so there continues to be considerable scope for the Board to continue its progressive future dividend policy.



Outlook

This has been an excellent 6 months with improved results in all key areas. We continue to be highly cash generative and there is considerable scope for a progressive dividend policy whilst continuing to identify and integrate earnings-enhancing acquisitions.

AdEPT Telecom: WH Ireland moves target price from 170p to 185p, keeping its buy recommendation. Northland moves target price from 165p to 175p and maintains a buy recommendation.

AdEPT Telecom dials up the right numbers

By John Harrington

November 11 2014, 4:13pm
On the current share price of 125p, up 4.2% on the day at the time of writing, the projected FY2017 dividend puts the dividend yield at a meaty 5.2%.
On the current share price of 125p, up 4.2% on the day at the time of writing, the projected FY2017 dividend puts the dividend yield at a meaty 5.2%.


---ADDS BROKER COMMENT AND SHARE PRICE---

AdEPT Telecom (LON:ADT) has signalled strong confidence in the future by bumping up its interim dividend by 50%.

The results for the six months to 30 September revealed the half-year divi has been increased to 2.25p from 1.50p last year, on the back of a 12.7% increase in underlying earnings (EBITDA) to £2.4mln from £2.1mln last year.

The increase in underlying earnings extends the company’s enviable streak of increasing half-year EBITDA each year to 12.

Chairman Roger Wilson described the six-month period as an excellent one in which results improved in all key areas.

Adjusted profit before tax increased by 13.9% to £2.2mln from £1.9mln, while free cash flow jumped 29.1% to £2.2mln from £1.7mln.

“There’s no point generating profit if it does not turn into cash,” finance director John Swaite told Proactive Investors.

Net debt has come down by £0.7mln during the last 12 months to £3.2mln, despite the company spending £2.1mln on acquisitions.

Strong free cash flow generation has continued since the end of the reporting period and Swaite told Proactive Investors the company could probably be cash positive in 12 to 18 months, but with interest rates so low the company saw little point when it could earn a better return by acquiring businesses.

Total revenue in the period rose by 11.3% to £11.3mln from £10.2mln, helped by acquisitions but also as a result of new contract wins, an increasing proportion of which are coming from the public sector.

Revenue from next generation services, including data connectivity, network solutions and Cloud-based contact centre solutions increased by 29.0% to 26.8% of total revenue, while the proportion of revenue from old school phone calls is down to 26% of total revenue.

“Calls are a much smaller part of what we do now,” chief executive officer Ian Fishwick told Proactive Investors, adding that some of the pricing pressure in the sector is beginning to ease.

“Fixed lines into buildings are not going to disappear,” predicted Fishwick, but it is clear the company’s focus is increasingly moving to other areas.

“The public sector is increasingly important to us,” Fishwick said, noting that the government is keen to have a higher proportion of small to medium enterprises (SMEs) providing data connections to loosen the grips of the big beasts in the telecoms sector.

The company has bagged more than 20 council deals over the last 18 months and is present on three procurement frameworks; frameworks essentially identify approved government procurement organisations that government agencies can buy from, without having to go through the hassle of putting a contract out for tender, and so are much more significant than individual tenders.

“We are the SME that is leading that charge,” Fishwick declared.

AdEPT's nominated adviser (Nomad) said the results demonstrate good progress on a number of fronts.

A better than expected margin improvement has prompted the broker to upgrade its forecasts for the current financial year (FY15) and next (FY16), while it has introduced forecasts for the year to end-March 2017.

The company is now tipped to make an adjusted profit before tax of £4.2mln this year, up from £3.7mln last year; previously the broker had pencilled in a pre-tax profit figure of £3.9mln.

FY16 adjusted profit before tax is seen rising to £4.3mln (previous estimate: £3.9mln), while the new FY17 number is £4.4mln.

The interim dividend was also higher than Northland expected and it has upped its dividend forecasts by half a penny for the current year and next.

Northland reckons the full-year dividend this year will be 4.5p, and next year's divi will be 5.5p, and it is predicting the FY17 dividend will be 6.5p.

"The share price has failed to reflect the progress made and the potential for further growth both organically and through acquisition and the current discount to the peer group is unwarranted," the broker maintains.

It reiterated its 'buy' rating and upped its price target to 175p from 165p.

12 Nov Beaufort... N/A Speculative Buy
11 Nov WH Ireland... 185.00 Buy
11 Nov Northland... 175.00 Buy

AdEPT Telecom lands NHS Trust contract

By John Harrington

November 25 2014, 7:15am
AdEPT Telecom is one of the UK's leading independent providers of voice and data telecommunications solutions
AdEPT Telecom is one of the UK's leading independent providers of voice and data telecommunications solutions


AdEPT Telecom's (LON:ADT) expanding footprint in the public sector had widened further with the award of a new NHS Trust contract.

The initial contract term is for 12 months, and the value of the contract is expected to be in the region of £200,000.

"This contract award is significant as it is AdEPT's first NHS Trust customer contract to be awarded under one of AdEPT's public sector frameworks and forms part of the continuing focus of the company on public sector business," said Ian Fishwick, chief executive of AdEPT.

Fishwick has previously explained to Proactive Investors the significance of frameworks, which essentially identify approved government procurement organisations that government agencies can buy from, without having to go through the hassle of putting a contract out for tender.

AdEPT Telecom to buy back up to 15% of shares

By Philip Whiterow

December 18 2014, 4:42pm
The telecoms services provider can buy back up to 15% of its shares in issue through the scheme.
The telecoms services provider can buy back up to 15% of its shares in issue through the scheme.


AdEPT Telecom (LON:ADT) has launched a limited share buyback scheme just weeks after it raised its interim dividend by 50%.

The telecoms services provider can buy back up to 15% of its shares in issue through the scheme.

AdEPT’s underlying earnings rose by 13% in the half year to September to £2.4mln from £2.1mln. Its dividend hike was a reflection of strong cash flow and confidence in the future, it said then.

Shares today rose 6% to 146.2p, just shy of the high for the year.