Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Manx Telecom PLC (MANX)

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Friday 12 January, 2018

Manx Telecom PLC

Pre-Close Trading Update

RNS Number : 6751B
Manx Telecom PLC
12 January 2018


 12 January 2018




Manx Telecom Plc

Pre-Close Trading Update



Manx Telecom Plc (AIM: MANX; the "Company" or "Group"), the leading communication solutions provider on the Isle of Man, is pleased to announce its pre-close trading update for the full year to 31 December 2017.


The Board confirms that trading during 2017 was in line with management expectations, with strong underlying cash flow continuing to support our progressive dividend policy. Both underlying EBITDA and underlying FCF returned to solid growth in the second half of the financial year.


The Company's core domestic business was stable during the year. High speed broadband services are available to 93% of customer premises on the island and coverage is expected to grow further as the Company continues to invest in its network. Take up of high speed broadband continues to increase, with 52% of our broadband customer base now on VDSL or VDSL+, up from 40% at the end of December 2016, whilst we are encouraged by our early stage progress with regards to our FTTP ('Fibre to the Premise') rollout. As expected, fixed voice saw moderate decline for the 12-month period, whilst mobile performed solidly for the year as a whole.


As previously communicated, Group revenue for the year has been impacted by the consolidation of customers in our data centre business, which occurred during 2016, and the rescheduling of the directories publication.  These effects have been partially offset by continued strong growth in Global Solutions and some recovery in data centre revenues in the second half of 2017, resulting in broadly flat Group revenues year on year. 


Cash performance was particularly strong in H2, aided by tight control of working capital and capital expenditure, resulting in closing net debt being lower than market expectations. This cash performance has triggered provision for incentive payments which will result in a moderately lower underlying EBITDA than last year.


Progress at Vannin Ventures, our business incubator, has been encouraging, and we remain particularly excited by the medium-term growth opportunity represented by Goshawk Communications, in which we took a majority stake during 2017.


The execution of the transformation programme which was launched in October 2016, remains on track. As previously communicated, we will continue to incur some exceptional costs in 2018, with the associated benefits starting to accrue in 2018. A more detailed update on the programme will be provided in the full year results.


Preliminary results for the 12 months to 31 December 2017 will be announced on 15 March 2018.


This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/ 2014.







For further enquiries, please contact:


Manx Telecom plc



+44 (0)1624 636 400

Gary Lamb, CEO

Paul Tierney, Interim CFO


Liberum Capital (Nominated Adviser and Corporate Broker)

+44 (0)20 3100 2000

Steve Pearce

Joshua Hughes


Oakley Advisory (Financial Advisor)

+44 (0) 20 7766 6900

Christian Maher

Victoria Boxall


Powerscourt Group (Public Relations)

+44 (0) 20 7250 1446

Celine MacDougall

Andreas Grueter



About Manx Telecom


·     Manx Telecom is the leading communication solutions provider on the Isle of Man, offering a wide range of fixed line, broadband, mobile, and data centre services to businesses, consumers and the public sector on the Isle of Man as well as a growing portfolio of innovative hosting and "Smart SIM" solutions to off-Island customers.

·     Manx Telecom has a record of innovation, being the first European operator to launch a 3G mobile service and the first in the world to launch a 3.5G mobile service. 4G service launched in the summer of 2014, and it is now available to contract and pre-pay customers with 99% population coverage. The Company's high speed VDSL broadband service (Ultima) is available to 93 per cent of homes on the Island. A VDSL Plus service launched in February 2015.

·     The Company has three data centres (two of which are Tier 3 designed) plus international connectivity and its operations are business-critical to the economic strategy of the Isle of Man.

·     One of the largest employers on the Island, Manx Telecom employs almost 300 people. The company plays a major role in the wider community through a range of activities, including charitable donations, sponsorships, and corporate social responsibility initiatives.

·     The company is proud to sponsor the Manx Telecom Parish Walk, Tough Mann Adventure Challenge, Manx Telecom End2End Mountain Bike Challenge, Team Manx Telecom (Manx Road Club), and Royal Manx Agricultural Show as well as other smaller events. Manx Telecom also donates annually to local causes through the company's "It's our Community" programme.

·     The Isle of Man has a resilient and stable economy. Unemployment is low at 1.8 per cent, and there is a zero per cent corporate tax rate which applies to the vast majority of Manx Telecom's business and means that the Group currently pays no corporation tax on its annual profits.

·     Manx Telecom is listed on the Alternative Investment Market of the London Stock Exchange with the ticker MANX.


This information is provided by RNS
The company news service from the London Stock Exchange

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