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LONDON (Alliance News) - Redcentric PLC Monday reaffirmed its intention to declare a maiden dividend with its full-year results, as it said it continued to trade in line with expectations.
The managed services provider said it expects to report its full year results on June 16, and said that it will meet market expectations.
Redcentric said its acquisition of inTechnology Managed Services Ltd has delivered the benefits it expected, and the integration of the business is progressing as planned. The company expects to continue its integration of the business through the financial year 2015.
The compnay said improvements in its operating cash flow had been sustained from the first half of the year, following the unwind of working capital in its business. It currently expects net debt at the year end will be around GBP12.5 million and is expected to reduce significantly during 2014.
Shares in Redcentric were trading down 0.1% at 120.40 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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