Gamma revenues swell by 8%  

Gamma saw its group revenues and gross profit grow by 8% to £521.7m and £267.2m respectively for the year ended 31st December.

Recurring revenue also grew by 7% to £462.8m, remaining at 89% of total revenue. Adjusted EBITDA grew by 9% to £114.3m.

Gamma Business saw gross profit increased by 8% to £176.1m, largely driven by UCaaS sales and targeted price rises.

Gamma Enterprise grew gross profit by 7% to £52.6m partially supported by the acquisition of Satisnet. Gross margin decreased slightly from 48.3% to 47.8% due to Satisnet having a lower gross profit margin.

Gamma CEO Andrew Belshaw, said: “As well as our organic growth, Gamma has made acquisitions which have added to our growth potential and our ability to sell additional solutions to our existing customers.

“We have developed our solution portfolio in the UCaaS space, and in the UK, for the first time, we will have a portfolio of solutions to serve any business of any size, we plan to replicate this in Europe throughout 2024.”

Gamma is also announcing an intention to launch a share buyback programme of £35m to be executed over the next six months, until early September.

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