Highlights
Progress in all key focus areas leads to year on year growth
Important progress with our enterprise customers, increasing our services to HMRC and securing further new business including ATOC, BUPA and Shoosmiths
Accelerated fibre deployment and strong take-up, making ultra-fast broadband available in Hull and East Yorkshire. Approximately 150,000 premises will be passed by December 2017
Successful launch of single business under new KCOM brand
National network asset disposal for £90.0 million strengthening the balance sheet, supporting accelerated investment and underpinning medium term dividend commitment
Pre-exceptional EBITDA ahead of prior year at £74.9 million. Depreciation and amortisation from increased investment reduces pre-exceptional operating profit to £50.9 million (2015: £57.2 million). Reported operating profit is £91.8 million (2014: £22.4 million)
Adjusted basic EPS 7.54 pence (2015: 7.91pence)
Proposed final dividend of 3.94 pence (2015: 3.58 pence), resulting in full year dividend of 5.91 pence (2015: 5.37 pence). Dividend guidance of no less than 6.00 pence per annum for each of the next two financial years reiterated
Strong year end net funds position of £7.4 million, reflecting network sale proceeds and increase in net cash inflow from operations
