Manx Telecom PLC Pre-Close Trading Update (3775U)
12 July 2018 - 4:00PM
UK Regulatory
TIDMMANX
RNS Number : 3775U
Manx Telecom PLC
12 July 2018
12 July 2018
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
provide this pre-close trading update prior to the release of its
interim results for the first six months of 2018, due to be
announced on 12 September 2018.
The Board confirms that trading during the first half of 2018
has been in line with management expectations and has continued to
generate positive free cashflow, supporting the increased dividend
announced with our 2017 results.
The Company's core domestic business of Fixed Line, Broadband,
Data and Mobile performed well, delivering another solid revenue
performance. Our high-speed broadband services are available to 93%
of customer premises on the island, with penetration of this
premium service in our customer base having now reached 56%. The
rollout of our ultrafast FTTP broadband service ('Fibre to the
Premise') has progressed well with over 2,500 premises now passed
increasing to 4,600 due to be passed by the year end. The Mobile
business performed as expected with good take up of our UK and EU
roaming package, Smartroam, introduced last year.
Our Global Solutions business continues to experience further
growth, whilst Data Centre revenue remained broadly flat. Both of
these areas show opportunity for growth through the remainder of
the year.
The Company's Transformation Programme remains on track with the
associated benefits starting to accrue and further investment made
into our systems and processes. As previously stated these
exceptional costs will continue into the second half of the year as
the programme comes to completion.
Vannin Ventures, our business incubator, continues to provide
exciting opportunities with significant medium-term growth expected
from its investment in Goshawk Communications and the development
of its telecom solution for those with hearing difficulties. This
is progressing well, with good results seen from our current pilot,
ahead of an Isle of Man launch in the second half of the year and
subsequent launch in the UK in 2019.
For further enquiries, please contact:
+44 (0)1624 636
Manx Telecom plc 400
Gary Lamb, CEO
Paul Tierney, CFO
Liberum Capital (Nominated Adviser and
Corporate Broker) +44 (0)20 3100 2000
Steve Pearce
Joshua Hughes
+44 (0) 20 7766
Oakley Advisory (Financial Advisor) 6900
Christian Maher
Victoria Boxall
+44 (0) 20 7250
Powerscourt Group (Public Relations) 1446
Elly Williamson
Celine MacDougall
About Manx Telecom
Manx Telecom is the leading communication solutions provider on
the Isle of Man, providing a wide range of Fixed Line, Broadband,
Mobile and Data Centre services to retail, business and public
sector customers on the island, as well as a growing portfolio of
innovative hosting and "Smart SIM" solutions to global
customers.
The Company focuses on providing outstanding customer
experience, high-quality and high-availability networks achieving
99% 4G and 93% superfast fibre broadband population coverage, and
consistent first-to-local-market roll-out of new products for homes
and businesses.
Manx Telecom is the only operator of a Fixed Line network and is
currently investing in state of the art 1 Gbps Fibre-to-the-Premise
(FTTP) broadband for both its consumer and business customer base.
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 Isle of Man's largest employers with around 300
staff, Manx Telecom plays a major role in the wider community
through a range of activities including: charitable donations,
sponsorships and corporate social responsibility initiatives.
Manx Telecom is strengthening its core market position whilst
exploring new market opportunities on and off-island, leveraging
its telecommunications expertise and mobile technology platform. In
2016, the Company launched its business incubator Vannin Ventures,
focused on identifying and investing in new products, services and
business opportunities as part of the Group's long-term growth
strategy.
Manx Telecom is listed on the Alternative Investment Market of
the London Stock Exchange (AIM: MANX). www.manxtelecom.com
Market Abuse Regulation
This announcement is released by Manx Telecom plc and contains
inside information for the purposes of the Market Abuse Regulation
(EU) 596/2014 ("MAR") and is disclosed in accordance with the
Company's obligations under Article 17 of MAR. The person who
arranged for the release of this announcement on behalf of Manx
Telecom plc was Gary Lamb, CEO.
This information is provided by RNS, the news service of the
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END
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