Half Year Results 

Gamma outperforms on margin mix

Gamma outperforms on margin mix

Once again, Gamma Communications’ (GAMA) results came in ahead of analyst expectations. The group's profits beat the consensus thanks largely to a higher-margin product mix. Most notably, the UK “indirect” business - which is implemented through partners, rather than by Gamma directly - saw growth in higher-margin areas related to cloud telephony such as SIP Trunking and Cloud PBX. These boosted the group’s gross margin by 400 basis points to 49 per cent, dampened slightly by the direct business, which earned lower margins on some new business channels.

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