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Gamma Communications PLC on Tuesday reported a ‘healthy’ set of half year results as revenue growth across its businesses drove a higher profit, and said it expects its 2023 earnings to be at the top end of market expectations. For the six months ended June 30, the London-based cloud communication services provider said pretax profit jumped by 13% to £43.5 million from £38.4 million a year prior, as revenue grew by 9.2% to £256.2 million from £234.7 million the year before. The company said its UK businesses contributed to £18.7 million in revenue, while Europe delivered £2.8 million. Gamma upped its interim dividend by 14% to 5.7 pence from 5.0 pence in the first six months of 2022. Looking ahead, Gamma said given a ‘healthy’ first half performance, it expects to continue to see growth through to the end of the year. It also expects adjusted earnings before interest, tax, depreciation and amortisation and adjusted earnings per share to be in the top half of market expectations of £110.4 million to £117.2 million and 70.0 pence to 77.0 pence respectively. Chief Executive Officer Andrew Belshaw said: ‘We continue to deliver good financial growth and our broadened product set is resonating with channel partners and enterprise customers alike.’ Shares in Gamma were up 1.2% at 1,080.96 pence each in London on Tuesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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