Newbury’s Gamma Communications expects net cash up 45 per cent for FY23

Published by

Daniel Face

Berkshire-based UCaaS provider Gamma Communications has hailed ‘healthy growth’ for the year ended 31 December 2023 in a new trading update.

The past year has seen Gamma acquire both Satisnet and, just last month, EnableX, while maintaining partnerships with Cisco and Ericsson-LG.

That’s all contributed to a closing net cash balance of £134.8m – up 45 per cent from 2022 figures, despite inflationary pressures.

Chief executive Andrew Belshaw said: “Our staff and partners have delivered another set of positive results for Gamma across all our business units in the UK and Europe.

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“We welcomed the Satisnet and EnableX teams to the group and I’m excited about the partnerships with a number of the global tech giants which bring us enhanced access to leading edge UCaaS and CCaaS solutions, such as Cisco's Webex AI Portfolio.

“I’m also pleased with the strong European 2023 financial performance, as well as the work done on a Gamma-wide HR system that will be operational in Q2 2024, and the launch of the Finance ERP system project which will enhance our capabilities from 2025.

“Gamma is well positioned to continue to grow in 2024 with strong relationships, our evolving in-house and third-party solution set and Gamma’s resilient recurring revenue model.”

Full results are expected on Monday 25th March.

Daniel Face

Born and raised in Berkshire, Dan fell into journalism after completing his bachelor’s degree in English at UCL. Writing for The Business Magazine and local Biz News sites has given him the opportunity to chat with all manner of small business owners and share their success stories with a wider audience. Outside of work, Dan enjoys live music, board games and quiz shows, and is making a slow but persistent effort to learn Spanish.