KCom expects higher profits but lower revenues

TELECOMS group KCom said net profits for the first half of the year would be ahead of the previous year but warned that revenues would be lower.
By The Newsroom
Published 29th Sep 2010, 10:34 BST

In a trading update ahead of its interim results for the half year ending September 30, the Hull-based firm said the disposal of certain customer contracts to Phoenix IT and exiting from lower value work would lead to lower revenues compared to the same period last year.

But it said discussions about its banking arrangements are progressing to plan and it plans to replace two pension schemes with a single defined contribution scheme from Friday.

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In a statement the company said: "The group continues to build on progress made during the last two years, as well as securing future growth by exploiting core strengths and capabilities and leveraging strategic partnerships which extend the reach and range of our communications services.

"We continue to strengthen the overall financial position of the group through a combination of measures including debt and working capital management and rigorous cost control."

Related topics:PhoenixHull