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26 Sep 2008
Telecoms group KCOM has warned the Lehman Brothers' collapse could hit its profits to the tune of £3m this year.
KCOM, which includes voice and data integrator Affiniti as a subsidiary, is set to publish results for the six months to the end of September later this year. The company indicated it expects revenue to decline on the equivalent period last year but profit to stay at the same level.
KCOM claimed its telecoms and internet services business is performing solidly thanks to a steady flow of recurring revenues and a focus on reining in capital expenditure. The company indicated the Lehman failure would reduce its yearly earnings before interest, tax, depreciation and amortisation (EBITDA) by no more than £3m.
Chairman Michael Abrahams said: "The Board remains committed to the creation of shareholder value, not least through our dividend
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