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Nasstar revenue growth boosts company's full-year EBITDA

Mon, 29th Apr 2019 08:10

(Sharecast News) - Managed IT outfit Nasstar saw revenues move ahead in its last trading year, leading to higher EBITDA.Nasstar witnessed a 7% year-on-year increase in revenues to £25.7m, dragging EBITDA ahead 9% to £5.2m in the process.In the year ended 31 December, the AIM-listed group scored a significant new three-year contract win with a top 50 British law firm to deliver a fully managed public/private hybrid cloud solution to 850 users, providing "clear evidence" of the benefit of its "Nasstar 10-19" investment plan.Net cash increased 50% to £1.5m but Nasstar still turned in a statutory loss per share of 0.17p per share - a slight narrowing when compared to the 0.23p loss recorded in the prior year.Chief executive Nigel Redwood said: "Despite the very challenging macroeconomics of the technical sector, caused by wider economic uncertainties combined with increasing cost pressures and competition, Nasstar has had a positive 2018."The 'Nasstar 10-19' programme has focused on key areas to mitigate as much as possible the market pressures seen across the technical sector whilst structuring the business as a single entity."Elsewhere, Nasstar chairman Peter Daresbury revealed he will step down from the board after 12 years on 23 October.Daresbury will be replaced be Nick Bate, who joined the board as a non-executive director in January 2014.As of 1040 BST, Nasstar shares had picked up 3.11% to 12.42p.
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28 Jan 2020 18:03

Nasstar Shares Cancelled From Trading Amid Takeover By Divitas Bidco

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17 Dec 2019 15:46

Nasstar Agrees To Be Taken Over In GBP79 Million Cash Deal

Nasstar Agrees To Be Taken Over In GBP79 Million Cash Deal

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23 Oct 2019 10:51

Nasstar New Chair Nick Bate Takes Reins As Daresbury Departs

Nasstar New Chair Nick Bate Takes Reins As Daresbury Departs

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30 Sep 2019 15:09

Nasstar Swings To Profit In First Half, Helped By Reduced Expenses

Nasstar Swings To Profit In First Half, Helped By Reduced Expenses

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3 Jun 2019 16:11

UK Shareholder Meetings Calendar - Next 7 Days

Tuesday 4 JuneSerabi GoldGem DiamondsGym GroupNostrum Oil & Global American 5 (re

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29 Apr 2019 11:39

Nasstar Chair To Step Down In October As Annual Loss Narrows Slightly

LONDON (Alliance News) - Nasstar PLC on Wednesday reported a slightly narrower annual loss as it said Chair Peter Daresbury will step down from his role in October.Daresbury has been chair

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22 Mar 2019 13:51

Gresham House Now Holds 5.7% Interest In Computing Firm Nasstar (ALLISS)

LONDON (Alliance News) - Cloud computing company Nasstar PLC on Friday said Gresham House Asset Management Ltd now holds a 5.7% stake in the company.Prior to a transaction on Tuesday, was a

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20 Mar 2019 18:20

Close Asset Management Doubles Stake In Nasstar To 10% From 5.1% (ALLISS)

LONDON (Alliance News) - Nasstar PLC said on Wednesday that Close Asset Management Ltd has upped its stake in the cloud computing services provider to 10.1% from 5.1% in a transaction on in closed

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1 Feb 2019 08:36

Nasstar "Better Positioned Than Ever" As 2018 Revenue Beats Forecasts

LONDON (Alliance News) - Nasstar PLC on Friday said it expects its revenue for the year to the end of December to come in ahead of expectations, with adjusted earnings before interest, taxes, and

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1 Feb 2019 08:29

Nasstar's revenues beat expectations, wins top law firm contract

(Sharecast News) - Nasstar crept higher after reporting that full-year revenue will come in "slightly ahead" of management expectations while EBITDA will fall in line after the year ended with positive trading.

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8 Oct 2018 15:17

Livingbridge Now Holds 6.4% Stake In Cloud Services Provider Nasstar (ALLISS)

LONDON (Alliance News) - Nasstar PLC said Monday that Livingbridge VC LLP now holds a 6.40% stake in the company.Prior to the deal, Livingbridge's holding in the cloud computing was not

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24 Sep 2018 11:22

Losses narrow as revenue improves at Nasstar

(Sharecast News) - Hosted managed and cloud computing services provider Nasstar announced its unaudited interim results for the six months ended 30 June on Monday, with revenue up 6% year-on-year to £12.5m.

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24 Sep 2018 10:39

Nasstar Interim Revenue Increases And Loss Narrows On Restructuring

LONDON (Alliance News) - Nasstar PLC on Monday said its loss narrowed in the first half of 2018 as it progresses on its three-year strategic programme.The computing services provider said a

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30 Jul 2018 08:02

Nasstar in line with expectations amid engineering investment

(Sharecast News) - Cloud computing services provider Nasstar on Monday said it remains "confident" that full-year results will fall in line with previous expectations.

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