AdEPT Telecom reduces full year expectations
Friday, November 24, 2006
AdEPT Telecom has responded to a fall in its share price by admitting that the results for the full year to March 2007 will be below current expectations.
AdEPT Telecom said that the telecommunications market environment has been through a period of increased competition particularly as a result of free broadband offers and packaging of fixed line with mobile. This has led to higher levels of customer churn which has impacted the rate at which the Company's profitability is growing.
AdEPT has responded to market conditions by expanding the management and marketing team.
Roger Wilson, Chairman of AdEPT, said,
'AdEPT remains in a strong position to continue to consolidate the very fragmented fixed line reseller market. Our underlying performance remains very strong and while results for the full year might be below current market expectations, we are still reporting significant increases on the previous six months. Looking ahead, we have a strong pipeline of potential acquisitions and we believe the Company is well positioned to generate solid shareholder returns over the medium to long term as we expand our product range to include broadband and mobile.'
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