Manx Telecom PLC Pre-Close Trading Update (3773N)
29 January 2016 - 6:00PM
UK Regulatory
TIDMMANX
RNS Number : 3773N
Manx Telecom PLC
29 January 2016
29 January 2016
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 ahead of its preliminary
results for the year ended 31 December 2015, due to be announced on
30 March 2016.
The Board confirms that trading remains in line with its
expectations.
The Company's domestic business has performed well during the
period and we continue to invest in our infrastructure to support
the future evolution of our product offering. Our mobile business
has performed particularly well, following our investment in 4G in
2014, delivering good rates of 4G adoption and increased ARPU.
High speed VDSL broadband is now available to 91 per cent of
homes on the Island and we have 30 per cent of customers using the
service, with take up rates continuing to increase. Penetration of
our high speed broadband products was boosted by the launch of VDSL
plus superfast broadband at the beginning of 2015.
During the last quarter of the year we completed the second
phase of our new data centre facility, Greenhill Data Centre (GDC),
and were pleased to welcome our anchor tenant in October 2015.
Occupancy levels in the GDC are in excess of 50% and our focus
continues to be on winning additional contracts across the data
centre portfolio.
Global Solutions performed in line with our expectations,
delivering an improvement in revenue in the second half of the year
and we are pleased that the momentum has continued into 2016. We
continue to see growth across the product range, particularly in
our strongest signal mobile solution, branded Chameleon.
In November, we announced the appointment of Danny Bakhshi as
our Chief Financial Officer and are pleased to confirm that Danny
will join the team and the Board on 1 February 2016. The current
Interim CFO, Paul Tierney, will remain at Manx Telecom until April
2016 to facilitate a smooth transition.
-Ends-
For further enquiries, please contact: +44 (0) 1624
Manx Telecom plc 636400
Gary Lamb, Chief Executive Officer
Paul Tierney, Interim Chief Financial
Officer
Liberum Capital (Nominated Adviser +44 (0)20 3100
and Corporate Broker) 2000
Steve Pearce
Steve Tredget
+44 (0) 20 7766
Oakley Capital (Financial Adviser) 6900
Christian Maher
Victoria Boxall
+44 (0) 20 7250
Powerscourt Group (Public Relations) 1446
Peter Ogden
Simon Compton
Harriet O'Reilly
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 91 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)
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 nearly 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
1.9 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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