Distributor hails strong maiden year as gross profit rises 25.4 per cent YOY from £53.9 million to £67.6 million
Gamma Communications has hailed a “strong maiden year” after seeing annual revenue increase by 16.5 per cent from £148.7 million in 2013 to £173.2 million last year.
The Newbury-based comms provider was floated for £165.2 million in October and said its first results as a listed company had seen gross profits rise 25.4 per cent year-on-year, from £53.9 million to £67.6 million.
Earnings before interest, tax, depreciation and amortisation grew from £16.3 million in 2013 to £17.9 million for the year ending December 31.
Operating profit was up by £4.3 million, from £12.8 million in 2013 to £17.1 million last year.
Gamma provides unified communications services including SIP trunking, which increased by 45 per cent from 161,000 to 234,000, and Cloud PBX, with its user base increasing from 43,000 to 80,000 (86 per cent increase).
It also runs its own MVNO which connects through Vodafone. According to the financial results, its mobile market share sat at just 0.6 per cent which “leaves plenty of room for further growth.”
Gamma said that almost 80 per cent of its revenues were generated indirectly by its channel partners, with partner numbers growing by almost a hundred, from 627 to 725 during the year.
Chief executive officer Bob Falconer (pictured) said: “2014 has been an excellent year for Gamma with a successful AIM listing in October, strong organic growth and a leading position in expanding markets.
“We have a wide shareholder base, a highly experienced board and a strength in depth in management. I’d like to welcome our new shareholders and thank the founding shareholders of the business who remain significant investors for their continued support for over ten years.”