- Communications services provider Gamma Communications said it expected annual earnings and revenue to beat market expectations as its core business performed strongly in the first half of the year.

The company said it expected to beat consensus expectations for full-year revenue, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and earnings per share of £373.2m, £71.8m, and 46.5p respectively.

'In both the UK and Europe, our financial model has continued to be robust given that 93% of revenue is recurring and billed monthly,' the company said..

In its UK indirect business, the company continued to have net additions for SIP trunks, cloud PBX and UCaaS, though during Q2 they were at a lower level than pre-Covid.

While its direct business had been awarded numerous new multi-year contracts.

'We continue to execute our European expansion strategy having acquired Voz Telecom (Spain) in April 2020 and HFO Holdings (Germany) on 1 July 2020,' the company said.

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