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KCOM gloom

There's not too much excitement at Hull-based telecoms group, KCOM (KCOM). As expected, the group's UK-wide business services division saw sales decline by £10m to £138m and underlying cash profits squeezed by 10 per cent to £14.5m, which largely reflected lower revenue from a one-off network build contract. More encouragingly, perhaps, turnover from KCOM's strategic focus areas - such as local authorities and multi-site enterprises, which tend to carry higher margins - held steady at £122m.

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