Financial Highlights
- Revenue of £79.3m, up 4.2% (2013: £76.0m)
• Fixed line, Broadband and Data revenues grew 1.1% driven by good take-up of high speed broadband
• Strong growth in Global Solutions revenue with a 23% increase as a result of increased wholesale volumes, machine-to-machine (M2M) and Strongest Signal Mobile (branded Chameleon) services revenue
• Steady growth in Data Centre revenues, increasing 2.3%
• Decline in Mobile revenues of 4.4%, as expected, due to a reduction in mobile termination rates
- As expected underlying EBITDA decreased moderately year on year to £27.1m due to the incremental costs of being a public company
- Continued strong cash generation with operational cash flow up 3.6% and cash conversion from underlying EBITDA greater than 100%.
- Net debt of £53.7m, equivalent to net debt/EBITDA ratio of 1.98x
- Final dividend of 6.6p, making 9.9p for the full year, representing a 7% yield on the IPO price of 142p
