Preliminary results announced
08 Dec 2009
Alternative Networks announced their preliminary results today (8 December) for the year ending 2008/9. A strong and creditable performance, considering the economic climate, has seen the group continue to win market share and generate very healthy cash returns.
CEO James Murray commented:
“We finished the year in a strong position, after weathering a fierce downturn in customer spending, which began in the first quarter of 2009.
“Tight control of costs and strong cash management have been key to our ability to manage our way through this downturn. We continued to grow market share and ended the year meeting our revised targets, with the balance sheet stronger than ever and with a high degree of revenue visibility for 2010.
“Looking forward, we intend to focus on growing market share and increasing our revenue streams from different sources. The acquisition of Aurora Kendrick James is of significant strategic importance in this regard. It accelerates the development of our customer service portal, enhancing the existing service offering and creating opportunities for new revenue streams by working with third party telecoms and IT services providers.
“We remain cautious but optimistic, especially as we are better placed than previously to take advantage of any improvement in market conditions. We will also continue to examine value adding acquisition opportunities, where they promise clear shareholder value.”
For more information, please see the Preliminary report and the Preliminary Presentation .
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