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AdEPT ends financial year on a high
Managed IT services provider AdEPT updated the market on its trading for the year ended 31 March on Thursday, ahead of its final results which were expected to be announced in early July.
The AIM-traded firm said its net senior debt of £18.05m was lower than market expectation, with its underlying EBITDA increase expected to be slightly ahead of market expectation of a 23% rise year-on-year.
Its board recommended an increased final dividend of 4.50p per share, compared to 4.00p last year.
Total dividends proposed for the year of 8.75p per share represented an increase of 13% over the prior period.
"Turnover is also expected to be above market consensus expectation of a 29% rise year-on-year," the board said in its statement.
"The deferred consideration period in relation to the acquisition of Our IT Department ended on 31 January and we are pleased to announce that the results for the 12 month post-acquisition period exceeded the maximum consideration threshold.
"The deferred consideration for Our IT Department of £3.65m will be paid in early April."