Kcom performance on track but net debt rises

TELECOMS group Kcom has today said it has continued to perform in line with expectations, although net debt has increased over its half year.

The East Yorkshire group added that although net debt has increased since the end of March, it expects it will reduce in the second half to be in line with market expectations at the end of the financial year.

Bill Halbert, executive chairman, said: “I am pleased to report that the group continues to make progress towards achieving its longer term objectives.

“The cash generative capacity of the group means it is able to continue with its progressive dividend policy while continuing to invest in those areas that support the group’s ambition to achieve market leadership positions across all four brands.”

In June, it reported profit before tax and pre-exceptional items increased 3.1% to £52.7m (2012: £51.1m) for the full year. Revenue was 3.7% lower at £372.9m in the year ending March 31.

Interim results for the half year to the end of September will be announced on November 26.