Gamma Communications (GAMA) increased gross profits by a fifth to £98.8m in 2016 on the back of a 340 basis point margin expansion. Below that line, pre-tax and earnings figures for the previous year were flattered by a one-off gain of £5.7m, but strip that out and earnings per share were well up year on year. Gamma also bolstered an already robust cash position through adjusted net cash inflows of £31.3m, representing 91.5 per cent of cash profits for the year.
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