Feeds

Kingston schtum on bid approach

Revs up, profits down

Boost IT visibility and business value

Kingston Communications remained schtum today about a possible take-over bid. Earlier this month it confirmed that it had received an approach but declined to use today's publication of interims to furnish investors with any more news.

Said the Hull-based telco: "As announced on 10 November, the Group has received an approach that may or may not lead to an offer for Kingston Communications. Further announcements will be made as appropriate."

Instead, its results for the six months to September revealed that pre-tax profit slipped 65 per cent from £8.9m in H1 2004 to £3.1m during the same period this year. This dip in profits comes at a time when revenue increased 46 per cent - from £153m to £224m - over the same period.

Affiniti - Kingston's business-to-business telecoms outfit that operates across the UK - saw its revenue climb 67 per cent to £161m in H1. Kingston Communications - the telco's consumer, business and ISP business based in East Yorkshire - saw revenues rise 20 per cent to £54m.

Said chairman Michael Abrahams in a statement: "In a period of significant change within the market and our business, we have continued to improve the underlying financial performance of the business with a particularly strong improvement in cash flow from operations." ®

Build a business case: developing custom apps

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.