Highlights
Performance in line with expectations
Progress across all key focus areas
‐ Success of and growth in demand for IP based 'Workplaces' portfolio, including successful HMRC implementation and further significant opportunities in pipeline
‐ Acceleration of fibre deployment in Hull & East Yorkshire, following continued strong demand for fibre and broadband services, well ahead of national average
Business transformation continues to create more agile operating model
‐ Integration of brands to focus investment on growth in the Enterprise, Small and Medium-sized Business (SMB) and Consumer segments
‐ Continued move towards effective, efficient support services/back office operations, implementation of common systems and processes support consolidation of teams
Pre-exceptional operating profit up 4% to £57.2m (2014: £55.0m), reported operating profit £22.4m (2014: £55.6m)
Adjusted basic EPS up 5% to 7.91p (2014: 7.55p)
Proposed final dividend of 3.58p (2014: 3.25p), representing sixth year of at least 10 per cent dividend growth
Commenting on the results, Chief Executive Bill Halbert says:
"Last year we began the second stage of the transformation of our business. I am pleased to report that there has been continued progress in our focus areas. In Hull and East Yorkshire, the strong demand for our Lightstream fibre-based services has been maintained and in the Enterprise and SMB markets, we continue to see growing interest in our cloud and collaboration related capabilities. These are the key opportunities for future growth.
"In the coming year, we will seek to accelerate that progress, particularly in the Enterprise space where we see significant opportunity.
"In accordance with our previously stated dividend commitment, the Board is recommending a final dividend of 3.58p per share. Subject to shareholder approval at the AGM, this will be the sixth year of 10 per cent dividend progression, during which the full year dividend has grown from 1.75p to the proposed 5.37p, a reflection of our confidence in the Group's underlying strength."
