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Gamma Communications annual profit jumps on boost from acquisitions
StockMarketWire.com
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Communications services provider Gamma Communications reported a sharp increase in profit as revenue was bolstered by acquisitions in Europe and growth across all key product categories during the year.
For the year ended 31 December, pre-tax profit rose 66% to £75 million year-on-year as revenue grew by 20% to £393.8 million.
Organic revenue growth of 9% was 'slightly lower than originally expected due to the lower rate of sales in the second quarter driven by the COVID-19 pandemic,' the company said.
The company proposed a final dividend of 7.8 pence per share, up 11% from 7.0 pence last year.
Looking ahead, the company said it is positive about the outlook for the group in 2021 and beyond.
Story provided by StockMarketWire.com
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