Manx Telecom PLC Pre-Close Trading Update (7794K)
July 12 2017 - 2:00AM
UK Regulatory
TIDMMANX
RNS Number : 7794K
Manx Telecom PLC
12 July 2017
12 July 2017
Manx Telecom Plc
Pre-Close Trading Update
Manx Telecom Plc (AIM:MANX; the "Company"), the leading
communication solutions provider on the Isle of Man, is pleased to
announce its pre-close trading update prior to the release of its
interim results for the first six months of 2017, due to be
announced on 12 September 2017.
The Board confirms that trading during the period has been in
line with management's expectations.
The Company's core domestic business of fixed line, broadband,
data and mobile has performed well during the six-month period.
With high speed broadband services now available to 93% of the
Island's homes, penetration of our customer base has expanded to
45%. Our mobile business performed solidly throughout the period,
providing 99% of the Island's population with the ability to enjoy
4G services.
Continued revenue growth in the Global Solutions business helped
to offset the previously noted decrease in Data Centre revenues
which were driven by customer consolidation. As also noted at the
full year results, a change to the distribution date for the
telephone directory means there will be less revenue from this part
of the business than in last year.
As part of the Company's ongoing investment in its network, a
plan has been put in place to bring ultrafast fibre to the premises
(FTTP) broadband to an initial 77 locations, covering key business
districts and industrial estates. The roll-out will take place
during the rest of the year.
Underlying cash flow remains strong, continuing to support our
dividend policy.
The transformation programme which was launched in October 2016
with the aim of improving competitiveness and the customer
experience is on track.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/ 2014.
For further enquiries, please contact:
Manx Telecom plc +44 (0) 1624 636100
Gary Lamb, CEO
Danny Bakhshi, CFO
Liberum Capital (Nominated Adviser and Corporate Broker) +44 (0)20 3100 2000
Steve Pearce
Josh Hughes
Dominik Götzenberger
Oakley Capital (Financial Adviser) +44 (0) 20 7766 6900
Christian Maher
Victoria Boxall
Powerscourt Group (Public Relations) +44 (0) 20 7250 1446
Juliet Callaghan
Simon Compton
About Manx Telecom
-- Manx Telecom is the leading communication solutions provider
on the Isle of Man, offering a wide range of fixed line, broadband,
mobile, and data centre services to businesses, consumers and the
public sector on the Isle of Man as well as a growing portfolio of
innovative hosting and "Smart SIM" solutions to off-Island
customers.
-- Manx Telecom has a record of innovation, being the first
European operator to launch a 3G mobile service and the first in
the world to launch a 3.5G mobile service. 4G service launched in
the summer of 2014, and it is now available to contract and pre-pay
customers with 99% population coverage. The Company's high speed
VDSL broadband service (Ultima) is available to 93 per cent of
homes on the Island. A VDSL Plus service launched in February
2015.
-- The Company has three data centres (two of which are Tier 3
designed) plus international connectivity and its operations are
business-critical to the economic strategy of the Isle of Man.
-- One of the largest employers on the Island, Manx Telecom
employs approximately 300 people. The Company plays a major role in
the wider community through a range of activities, including
charitable donations, sponsorships, and corporate social
responsibility initiatives.
-- The Company is proud to sponsor the Manx Telecom Parish Walk,
Tough Mann Adventure Challenge, Manx Telecom End2End Mountain Bike
Challenge, Team Manx Telecom (Manx Road Club), and Royal Manx
Agricultural Show as well as other smaller events. Manx Telecom
also donates annually to local causes through the company's "It's
our Community" programme.
-- The Isle of Man has a resilient and growing economy which has
experienced 31 years of unbroken GDP growth. Unemployment is low at
1.0 per cent, and there is a zero per cent corporate tax rate which
applies to the vast majority of Manx Telecom's business and means
that the Group currently pays no corporation tax on its annual
profits.
-- Manx Telecom is listed on the Alternative Investment Market
of the London Stock Exchange with the ticker MANX.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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