KCom sees strong rise in profits

TELECOMS provider KCom Group cheered shareholders with a 71 per cent rise in full-year pre-tax profits on the back of new contract wins.

By The Newsroom

Published 26th May 2011, 10:14 BST

The Hull-based company, which has won new contracts from Domino’s and the NHS Business Services Authority, also counts British Airways and Reckitt Benckiser among its customers.

Pre-tax profits for the year to March 31 rose to £32.9m from £19.2m a year ago.

Revenues fell four per cent to £395.4m after the company exited low-margin commodity-based operations.

KCom increased its full-year dividend to 3.6p from last year’s 1.75p.

The company’s shares, which have gained 30 per cent in the last six months, were up five per cent at 69p this morning.

Hull British Airways