Financial results

Financial highlights

As per the Full Annual Report  issued on 4 January 2010. 

Operational highlights

  • Sales down 4% to £90m
  • Market share gains:
    • Mobile subscriber base increased 6% to 55,299 (2008: 51,990),
    • Fixed Line customer estate increased 23% to 55,780 (H1 2008: 45,397)
    • Office based customers’ lines/channels increased 29% to 67,587 (2008: 52,262)
    • System maintenance revenues increased 5% to £4.4m (2008: £4.2m)
    • High spending customers taking 3 or more products increased by 10%
  • Swift cost reductions lead to £1m lower operating costs in the second half of the year, and underlying operating profits reduced 14% to £9.0m (2008: £10.4m).
  • Strong balance sheet and excellent cash generation:
  • Free cash flow of £7.9m (2008: £7.6m).
  • Strong cash conversion at 110% adjusted EBITDA (2008: 94%)
  • Net funds of £8.1m (2008: £3.2m), after returning £1.3m surplus cash via buy backs

 Corporate Highlights

  • Proposed full year dividend increase of 11% to 5.1p supported by strong cash flow and high visibility of earnings (2008: 4.6p).
  • Echo acquisition: earn out completed and a net refund to the Group of £0.2m achieved
  • O2 Service provider licence renewed to 31 July 2011

To view the full report go to our reports and accounts section. 

Non-geographic numbers top

Non-geographic numbers top

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Express conferencing

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Call centres

Call centres

Call centres