Comms provider KCOM has revealed a strong performance in the 12 months to the end of March means it had brought its group net debt down below £85m, significantly better than previous expectations.
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In a trading statement put out this morning, KCOM said that business was proceeding in line with expectations, adding that it had seen "incremental growth in the multi-year contracted order backlog" during the second half.
Cash generation has also remained strong, combined with good working capital performance and timing benefits associated with some key capital expenditure products, which is helping drive down the overall debt figures.
KCOM has now gone to ground and will release its preliminary full-year results on 26 May.