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Gamma Communications PLC - London-based cloud communication services provider - Reports strong trading in the first six months of 2022, with good year-on-year adjusted earnings before interest, tax, depreciation, and amortization growth. In the UK, company's Indirect Business remains on track to meet 8% gross profit growth for the full-year. Closing net cash at June 30 £72.6 million, up from £49.5 million at the same time a year prior. Notes good momentum moving into the second half of the year.
Looking to the year as a whole, Gamma expects adjusted Ebitda and adjusted earnings per share to be in the upper half of market forecasts. Forecasts currently stand at between £102.3 million to £106.8 million for adjusted Ebitda and between 67.1 pence to 74.6p for adjusted EPS.
Half-year results will be published on September 6.
Current stock price: 1,120.00 pence, up 1.1% in London on Tuesday
12-month change: down 47%
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