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Gamma Communications PLC - London-based cloud communication services provider - Says UK business has continued to perform strongly throughout 2022. It notes healthy demand for broadening UCaaS portfolio and products enabling Microsoft Teams. ‘The strength of our financial performance more than offset the UK inflationary pressures, and the minor industry-wide hardware supply delays in the Direct channel were actively managed and resolved within the year,’ it adds. Cash stands at £92.2 million as at December 31, compared to £49.5 million a year ago.
Chief Executive Andrew Belshaw says: ‘Our staff and partners have delivered another set of strong results for Gamma. The positive, UK driven, momentum in the first half continued throughout the year, more than offsetting the cost headwinds created by the increased inflationary environment.’
Looking ahead, expects adjusted earnings before interest, tax, depreciation and amortisation to be in line with expectations, in the range of £102.7 million to £107.0 million.
Current stock price: 1,118.00 pence, up 3.7% on Thursday morning in London
12-month change: down 30%
By Xindi Wei, Alliance News reporter
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