KCOM Group PLC (KCOM.L) AGM and Interim Management Statement
KCOM Group plc (“KCOM”) today publishes its Interim Management Statement for the period from 1 April to 30 June 2009. This update will also be provided to shareholders attending the company’s AGM later today.
Group trading has been in line with our expectations, as set out in our preliminary results announcement in June 2009.
Consistent with the outcomes of the strategic review, we maintain our focus on cost and capital management which will continue to support our objective of achieving a sustainable reduction in net debt, thereby strengthening our financial position.
Ahead of the half year, we will move towards a more integrated and tightly focused Group structure based on two businesses; the first includes our East Yorkshire business and Eclipse Internet and the second comprises those activities that will form a national managed communications services business. We will report in this format at the interim results in November.
Following the recently announced strategic agreement with BT, work is progressing well and we remain on schedule to transfer the management of our network operations to BT on 1 September 2009. KCOM employees working in our core network operations will also transfer to BT at this time. We plan to introduce our enhanced service portfolio, reflecting our agreement with BT, during the third quarter of the year.
The Board’s focus for the current financial year remains the continuing improvement in overall quality of the Group’s activities, positioning it for subsequent profitable growth.
The Board remains confident that the actions taken so far have strengthened the Group and will deliver an improved overall financial performance.
KCOM Group announces its interim results on 24 November 2009.
About the KCOM Group
KCOM Group PLC provides a range of integrated IT and communications services to businesses, and internet and telecommunications services to selected consumer markets, within the UK.
The Group’s portfolio of businesses works with both leading private enterprise customers and public sector organisations. Through its Affiniti and Smart421 brands, the Group delivers solutions covering unified communications, contact centre solutions, data management, applications integration and managed services.
The KCOM Group also includes a regionally-focused business, Kingston Communications, which supports small to medium-sized businesses. Through its KC and Eclipse brands, the business offers a wide range of internet-based and telecommunications services. The regional business also provides telephony and internet services to targeted consumers through its KC, Eclipse and Karoo brands
The Group is listed on the London Stock Exchange and employs over 2,200 people across the UK.
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