Telecoms group making progress, says chairman

In a statement ahead of the publication of its interim results, the Hull-based company said that, as anticipated, net debt had increased since March 31, 2013.

The company said it expected the debt to reduce in the second half, so that it would be in line with market expectations at the end of the financial year.

Bill Halbert, KCOM’s executive chairman, said: “I am pleased to report that the group continues to make progress towards achieving its longer term objectives.

“The cash generative capacity of the group means it is able to continue with its progressive dividend policy while continuing to invest in those areas that support the group’s ambition to achieve market leadership positions across all four brands.”

In June, KCOM Group pledged to increase its annual dividend by 10 per cent until 2016.

KCOM Group has served Hull since the company was formed in 1904.

It floated in 1999, and has expanded its network of clients nationwide. Today, KCOM Group employs more than 1,800 staff, and provides communications services for companies and public sector organisations across Brit- ain.

Its interim results for the half year ending September 30 are due to be announced on November 26.