TIDMADT
RNS Number : 9047Q
AdEPT Telecom plc
22 April 2009
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AdEPT Telecom PLC
("AdEPT Telecom" or the "Company")
Trading Update
AdEPT Telecom plc today issues a trading update for the year ended 31 March
2009. Final results are expected to be announced in early July 2009.
Despite the unprecedented conditions in the UK economy, the Company is pleased
to announce that its revenue and underlying EBITDA will be in line with market
expectations.
During the year to 31 March 2009 AdEPT Telecom has had several significant
customer contract wins, including the contract to supply data connectivity to
3,200 sites operated by Gamestec Leisure, a leading national operator of gaming
and amusement machines in the UK, worth an estimated GBP2.5m revenue over 3
years.
AdEPT Telecom has continued to focus on broadening its product range,
particularly with regard to data connectivity, whilst developing and maintaining
relationships with business partners across the UK.
One of AdEPT Telecoms' strengths is its' ability to generate strong cash flows
and we expect year end net debt to be reduced from the previous year end,
despite significant non-recurring costs during the year from the close-out of
Telecom Direct Limited and restructuring costs.
In December 2008 the Company successfully negotiated new banking facilities
through to December 2011. The new facilities provide a covenant package which is
considered appropriate for the future development of the Company.
Roger Wilson, Non-Executive Chairman of AdEPT Telecom, said: "The strong cash
flow generation of AdEPT and broadening of the product offering will ensure that
the Company can continue to maximize opportunities in the context of the current
uncertain market conditions."
For more information please contact:
+-------------------------------------------------+--------------------------+
| AdEPT Telecom Plc | 07786 111 535 |
| Roger Wilson, Chairman | 01892 550 225 |
| Ian Fishwick, Managing Director | 01892 550 243 |
| John Swaite, Finance Director | |
| | |
+-------------------------------------------------+--------------------------+
| Blue Oar Securities Plc | 020 7448 4400 |
| Shane Gallwey | |
+-------------------------------------------------+--------------------------+
About AdEPT Telecom plc:
AdEPT Telecom plc is one of the UK's leading independent providers of voice and
data telecommunications services. The Company provides fixed line calls, line
rental and data connectivity products to thousands of residential and business
customers across the UK. AdEPT Telecom's primary focus is on the UK SME market.
AdEPT Telecom has strategic relationships with tier-1 suppliers such as BT,
Cable & Wireless and Carphone Warehouse. The Company employs 65 members of staff
at its offices in Tunbridge Wells, Kent.
AdEPT Telecom is listed on the London Stock Exchange (Ticker: ADT). For further
information please visit: www.adept-telecom.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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