Gamma Communications: Progressive
The results for the year ended 31 December 2024 are in line with expectations, as reconfirmed in the January update. Revenue of £579.4m is 11%% above FY23 and gross profit of £300.3m is a 12% improvement. On an organic basis, the growth in revenue and gross profits is 5% and 6%, respectively. Gamma finished the year with net cash of £153.7m, up from £134.8m last year. UK operations showed good growth. Europe was mixed, with both Germany and Spain managing to deliver growth. Management expects satisfactory group organic growth and strong overall group growth in FY25. We are excited by Germany and how the recent acquisitions, most importantly STARFACE, translate into longer-term growth engines.
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