SysGroup PLC Trading Update and Notice of Results (8528W)
April 24 2019 - 2:01AM
UK Regulatory
TIDMSYS
RNS Number : 8528W
SysGroup PLC
24 April 2019
24 April 2019
SysGroup plc
("SysGroup" or the "Group")
Trading Update and Notice of Results
SysGroup (AIM:SYS), the award-winning managed IT services and
cloud hosting provider, is pleased to provide a trading update for
the year ended 31 March 2019, together with a notice of
results.
Group trading performance
The Group is pleased to report that both revenue and adjusted
EBITDA will be in line with management's expectations having grown
by approximately 22% and 40% respectively since FY18. The results
will underpin the Group's stated strategy of focusing on the
provision of end-to-end Managed IT Services with recurring revenue
now representing approximately 74% of the Group's total
revenue.
The Group acquired Certus IT Limited ("Certus") towards the end
of the period and is pleased to report that trading performance
from Certus is in line with management's expectations. The process
of integration is now underway, and we expect Certus to be trading
under the SysGroup brand later in the year.
Notice of Results
SysGroup expects to publish its full year results for the year
ended 31 March 2019 on 26 June 2019.
Adam Binks, Chief Executive of SysGroup commented:
"It has been an exciting first year at the helm of SysGroup, and
I am pleased with the progress that we have made on our journey to
become the leading provider of managed IT services and cloud
hosting. We've spent a considerable amount of time getting to know
our customers and understanding the challenges they face within
their own businesses so that we can develop leading solutions that
offer real value. I'm also delighted to have welcomed the Certus
team on-board following the acquisition earlier this year. We will
continue to invest in the Group and in our people throughout the
course of FY20 and I am confident that we will see shareholder
returns as a result."
For further information please contact: Tel: 0151 559 1777
SysGroup plc
Adam Binks, CEO
Martin Audcent, CFO
Shore Capital (Nomad and Broker) Tel: 020 7408 4090
Edward Mansfield
Daniel Bush
Anita Ghanekar
Alma PR (Financial PR) Tel: 020 3405 0205
Josh Royston
Hilary Buchanan
Helena Bogle
About SysGroup
SysGroup is a leading provider of Managed IT Services, Cloud
Hosting, and expert IT Consultancy. The Group delivers solutions
that enable clients to understand and benefit from industry leading
technologies and advanced hosting capabilities. SysGroup focuses on
a customer's strategic and operational requirements - enabling
clients to free up resources, grow their core business and avoid
the distractions and complexity of delivering IT services.
The Group has offices in Liverpool, Coventry, London, Telford
and Newport.
For more information, visit http://www.sysgroupplc.com
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END
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