Shares in business call services provider Gamma Communications (GAMA:AIM) soared to a new 12-month high of £16.60 this week, giving the company a market valuation of more than £1.5 billion, following a first-half update which hit all the right notes.

Revenue and operating profit rose by double digits, helped by positive underlying growth and a solid contribution from acquisitions, and the firm raised its guidance for full-year profit and earnings per share to the top of the range of analysts’ estimates.

‘Gamma has achieved another strong set of results, marked by robust revenue growth, stable margins, and strong cash generation’, said chief executive Andrew Belshaw.

‘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.

‘We are making progress in developing a common Pan-European product set, expanding our enterprise offering while continuing to capitalise on the significant opportunities within our small and medium enterprises customer base.’

The Berkshire-based firm also revealed it was considering moving its listing to the main market, after more than 10 years on AIM, and promised a further update in January once it has engaged with its biggest shareholders. 

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