January 29, 2018 / 8:10 AM / 6 months ago

UPDATE 1-UK telecoms group KCom sees core earnings above its expectations

(Adds analyst estimates, shares)

Jan 29 (Reuters) - British telecoms company KCom Group Plc said annual core earnings would come in slightly ahead of its expectations, thanks to a multi-year rebate on its Hull and East Yorkshire network infrastructure.

Investec analysts said they expected the windfall from the rebate to be about 3 million pounds ($4.2 million). The brokerage has a “buy” rating on the stock.

Analysts, on an average, were expecting the company to report EBITDA of 64.4 million pounds, according to Thomson Reuters I/B/E/S. KCom earned 67.6 million pounds last year.

The company, which provides communications services for customers such as Aviva Plc, said revenue performance for the year ending March 31 would be slightly below its expectations.

Shares in KCom were up 2 percent at 90 pence in thin trade at 0806 GMT on the London Stock Exchange. ($1 = 0.7078 pounds) (Reporting by Rahul B in Bengaluru; Editing by Saumyadeb Chakrabarty and Amrutha Gayathri)

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