AdEPT Technology sees less of a coronavirus impact than feared

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What AdEPT does

AdEPT Technology PLC (LON:ADT) is a non-network based telecommunications company that provides fixed-line calls, line rental, telephony, and broadband to business and residential customers.

The group serves a wide variety of sectors in the UK including health, education and government as well as both small and big businesses.

How it’s doing

AdEPT ‘s order intake has held up better than anticipated with cash collection improving since the end of April, it said in September.

In a statement at the company’s annual general meeting, Adept added it had provided services to entities including schools, doctor’s practices and employers to allow remote communication and home working by employees.

Interim results for the half-year to September 30 are due on November 17, and while it anticipated “encouraging progress” in the results, it said the uncertainty caused by the pandemic justified a “cautious approach” to cash distribution and as a result it did not anticipate the declaration of an interim dividend.

What the boss says: Ian Fishwick, chairman

“I remain convinced that COVID-19, whilst impacting the business in the short term, will, in many instances, accelerate the fundamental need for companies to invest in information and communications technology (ICT), as companies look to embrace the digitally empowered future in what is increasingly becoming the ‘4th utility’”.

“Our key indicators of new order intake, project delivery, cash collection and operational effectiveness provide encouragement during these challenging times.”

 

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