Adept Telecom's Chief Executive Ian Fishwick is gearing up for more acquisitions when the company achieves a cash positive position, he revealed in a trading update for the year ended 31st March 2015 (final results are expected to be announced in early July 2015).
According to Fishwick the firm beat city expectations in terms of the final dividend which has increased 58% from 3p last year to 4.75p this financial year.
"There can be no better sign of confidence for a business than announcing dividends like this," said Fishwick. "Our EBIDTA is in line with city expectations of £4.6m, up 14% on a revenue rise of just under 6%.
"Another area where we have exceeded city expectations is in cash generation. In March 2014 we announced that our net debt had fallen by £330K to just over £3m - a great result considering we had done an acquisition and increased the dividend.
"This year, debt dropped by £1.4m, so our cash generation was £1.1m better than expected."
With debt down to £1.6m and cash generation accelerating Fishwick expects Adept to be cash positive sooner rather than later, an event that will catalyse more activity around acquisitions.
"We don't like the idea of being cash positive in this era of low interest rates, so we are poised to look for earning enhancing acquisitions," added Fishwick.