Manx Telecom anticipates investing a further ?10million in its network and operations in 2016, a move which would take its total investment on the Island to more than ?120million over the last 11 years. The news was announced as the Island’s leading communications company reported its 2015 financial results. Revenues were up 0.4% to ?79.6million (2014: ?79.3million). Underlying EBITDA increased 2% to ?27.7million which translated into cash generated from operations of ?25.4million. This enabled Manx Telecom to spend ?10.1million on infrastructure in the Isle of Man, with the balance used to service debts and pay a dividend to shareholders.
The report said 2015 was a year in which the company had ‘maintained its significant investment into the network and broader operations, underlining its commitment to customer service, innovation, and its key role in ensuring the Isle of Man remains an attractive place to live and do business’.
Gary Lamb, Chief Executive of Manx Telecom, commented: “I am pleased to report another good year for the company and would like to thank both our loyal customers, and our outstanding 300-strong staff. By delivering a solid financial performance, we are able to continue making considerable investment into our network and broader operations which provides better service to our customers, but also plays an integral role in attracting new talent and business to the Island. We are a proud Manx business, and an ambassador for the Isle of Man in the UK and beyond. Our ability to succeed is directly linked to the Island itself, and we recognise the role and responsibility we have in attracting business here. We remain committed to our strategy – maintaining our focus on our core markets, continuing to invest in our infrastructure, and seeking new and innovative ways to grow our global revenues. Over the past 10 years we have invested ?110million in our telecommunications infrastructure – and every pound we invest in our business is also a pound invested in the Island and its future. We will continue to invest in this future to ensure that businesses here continue to have access to the best technology.”
The report reveals that Manx Telecom invested ?10.1million in 4G mobile, broadband, and on-going network enhancements in 2015. Manx Telecom supports more than 4,000 business customers and continued investment in infrastructure has played a major role in establishing and sustaining the Isle of Man’s reputation as a world class business centre.
Other 2015 highlights included:
• Renewal of a five year contract with Isle of Man Government, Manx Telecom’s biggest customer.
• Manx Telecom was delighted its staff share scheme, in which over 80% of its staff participate, won the “Best New Share Plan” category at the prestigious ProShare Awards in December 2015. The company also won the ‘Best Telecommunications PLC’ category at the UK Stock Market Awards.
• Roll out of high speed VDSL broadband services continued in 2015 – it now reaches 91% of households, with customers enjoying Manx Telecom’s superfast Ultima and Ultima Plus products.
• The broadband network now supports 95% of the population achieving a speed of over 4Mbps, which placed the Isle of Man as the 5th best country worldwide in a 2015 report by Akamai in Q4 2015.
• Mobile customers continue to return to Manx Telecom following investment in 4G which offers 99% population coverage. Mobile customer figures are up on 2014.
• Phase 2 of Manx Telecom’s Greenhill Data Centre was completed. It was built entirely by local contractors and the centre’s anchor tenant, PokerStars, moved in during Q4.
• Manx Telecom facilitated the world’s first medical technology trial which explored the use of software to fine tune the sound of phone calls for people with hearing loss, and took place in the Isle of Man. The report cites this project as an excellent example of Manx Telecom continuing its record of pioneering mobile technology.
Manx Telecom continues to support the local community through a range of sponsorships and charitable initiatives that are relevant to staff, and which reflect the company’s core values. These events include the Manx Telecom Parish Walk, End2End Mountain Bike Challenge, Royal Manx Agricultural Show and Tough Mann Adventure Challenge. This year, Manx Telecom is also supporting a number of schools initiatives during 2016, including an Enterprise Challenge scheme at St Ninian’s Lower School; an awards scheme at Castle Rushen High School; a Discovery Day at Dhoon Primary School; and the annual Crucial Crew Week in which primary school pupils from across the Island learn important life skills. Manx Telecom also sponsored Isle of Man Newspapers’ Young Citizen of the Year Awards in 2015, and are doing so again this year.
The company became a PLC in February 2014 when it was floated on the Alternative Investment Market of the London Stock Exchange. For the full announcement to the London Stock Exchange, please click here: www.manxtelecom.com/investors
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