Gamma has published its financial results for the first half of the year, showing group revenue is up by 10 per cent to £282.5 million.
The communication services provider said it has achieved a strong financial performance with gross profit and adjusted EBITDA growth in all business units and strong cash position.
Its gross profit grew by 11 per cent to £145.8 million, with recurring revenue remaining high at 89 per cent or £252.7 million.
Gamma credited its continued growth in cloud PBX seats as a key driver, with the company surpassing one million UK seats during the period.
Andrew Belshaw, CEO, Gamma (pictured), commented, “Gamma has achieved another strong set of results, marked by robust revenue growth, stable margins and strong cash generation. Our broadened product set is resonating well with both channel partners and enterprise customers. As customers require more complex communications solutions, we continue to see opportunities to grow our revenues further.”
Belshaw highlighted how Gamma is evolving its offerings for its partner community. He said, “The strength of Gamma’s balance sheet has enabled us to expand our capabilities, through both product development and strategic acquisitions. We have recently broadened our enterprise offerings with two earnings enhancing acquisitions: Coolwave Communications and BrightCloud. Additionally, we have conditionally agreed with Cisco to acquire Placetel a leading player in the German Cloud PBX space.
“We continue to view M&A as a key tool to complement our organic growth, broaden our capabilities and expand our European presence. With a strong pipeline of organic and inorganic opportunities, our resilient business model enables us to look forward with confidence.”