Manx Telecom PLC Pre-Close Trading Update (6949E)
February 12 2015 - 2:01AM
UK Regulatory
TIDMMANX
RNS Number : 6949E
Manx Telecom PLC
12 February 2015
12 February 2015
Manx Telecom Plc
Pre-Close Trading Update
Manx Telecom Plc (AIM:MANX; the "Company"), the leading
communication solutions provider on the Isle of Man, is pleased to
announce its pre-close trading update ahead of its preliminary
results for the year ended 31 December 2014, due to be announced on
14 April 2015. The Board confirms that trading remains in line with
its expectations.
The Company's domestic business has performed well during the
period and we continue to invest in our infrastructure and support
the future evolution of our product offering. Importantly the
Company has separately announced today renewal of the existing
"ConnectMann" telecommunications services agreement with the Isle
of Man Government with effect from 1 January 2015.
High speed VDSL broadband is now available to 87 per cent of
homes on the Island and on 1 February 2015 the Company launched a
"VDSL Plus" superfast fixed line broadband service that offers
speeds of up to 80 Megabits per second (download) and 10 Megabits
per second (upload) to around 50% of homes and businesses on the
Island.
In January 2015, the Company successfully launched 4G services
for its Pay As You Go mobile customers. This followed the launch of
the Isle of Man's only 4G network in July 2014 for Pay Monthly
customers. The new service provides coverage to 99% of the
population and has seen strong demand, with 90% of those Pay
Monthly customers renewing or taking out a new contract, choosing a
4G tariff.
Global Solutions continues to perform well, with revenue growth
being driven by machine to machine services, the strongest signal
mobile product and mobile virtual network enabler services.
There is also a strong pipeline of new hosting business at the
Company's Greenhill data centre where negotiations are at an
advanced stage with a number of interested parties.
The Company also announces today that after 31 years of service
and with Manx Telecom well positioned for the future, Mike Dee,
Chief Executive Officer, has informed the Board of his intention to
retire from a full time executive career during the second half of
2015. Recruitment for his successor has commenced and shareholders
will be updated in due course.
-Ends-
For further enquiries, please contact: Manx Telecom plc +44 (0) 1624 636400
Mike Dee, Chief Executive Officer
Gary Lamb, Chief Financial Officer
Liberum Capital (Nominated Adviser and Corporate
Broker) +44 (0)20 3100 2000
Steve Pearce
Steve Tredget
Oakley Capital (Financial Adviser) +44 (0) 20 7766 6900
Christian Maher
Victoria Boxall
Powerscourt Group (Public Relations) +44 (0) 20 7250 1446
Juliet Callaghan
Simon Compton
Carmen Murray
About Manx Telecom
-- Manx Telecom is the leading communication solutions provider
on the Isle of Man, offering a wide range of fixed line, broadband,
mobile, and data centre services to businesses, consumers and the
public sector on the Isle of Man as well as a growing portfolio of
innovative hosting and "Smart SIM" solutions to off-Island
customers.
-- Manx Telecom has a record of innovation, being the first
European operator to launch a 3G mobile service and the first in
the world to launch a 3.5G mobile service. 4G service launched in
the summer of 2014, and it is now available to contract and pre-pay
customers with 99% population coverage. The Company's high speed
VDSL broadband service (Ultima) is available to 87 per cent of
homes on the Island. A VDSL Plus service launched in February
2015.
-- The Company has three data centres (two of which are Tier 3)
plus international connectivity and its operations are
business-critical to the economic strategy of the Isle of Man.
-- One of the largest employers on the Island, Manx Telecom
employs nearly 300 people. The company plays a major role in the
wider community through a range of activities, including charitable
donations, sponsorships, and corporate social responsibility
initiatives.
-- The company is proud to sponsor the Manx Telecom Parish Walk,
Tough Mann Adventure Challenge, Manx Telecom End2End Mountain Bike
Challenge, Team Manx Telecom (Manx Road Club) and Royal Manx
Agricultural Show as well as other smaller events. Manx Telecom
also donates annually to local causes through the company's "It's
our Community" programme.
-- The Isle of Man has a resilient and growing economy which has
experienced 29 years of unbroken GDP growth. Unemployment is low at
2.0 per cent, and there is a zero per cent corporate tax rate which
applies to the vast majority of Manx Telecom's business and means
that the Group currently pays no corporation tax on its annual
profits.
-- Manx Telecom is listed on the Alternative Investment Market
of the London Stock Exchange with the ticker MANX.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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