Sysgroup Share News (SYS)

(ShareCast News) - SysGroup, an AIM listed managed services and cloud integrator, has expanded its partnership with Epicor through its ERP (BisTrack) application software.The company's subsidiary Netplan Internet Solutions has been appointed by Epicor as the sole UK and Ireland authorised partner for BisTrack, a fully integrated enterprise resource planning system designed for distributors, merchants and wholesalers.The group's revenue for the six months ended 30 September 2016 was up 40% to £3.38m from £2.41m in the previous period.Loss from continuing operations was £0.55m, up from from £0.21m last year. Reported profit after tax came to £1.05m, compared to a loss of £0.05m the prior year.Basic earnings per share rose to 6.1p from a loss of 0.04pNet cash of £3.66m at 30 September 2016 marked an improvement from a net debt of £0.004m in 2015.During the period, the group successfully acquired Sys-Pro for an initial consideration of £3.9m and disposed of non-core its SME Mass Market division for £2.7m in July 2016.Chief executive Chris Evans said: "We are pleased with the progress we have made during the period in transforming the focus of the company to that of a Managed Services provider while at the same time delivering a solid set of results."With the expected benefits from the integration of Sys-Pro into the Group and the increasing number of opportunities we are seeing in the market, we believe the Group is well-positioned to deliver on the objectives we have set ourselves for the remainder of the year and beyond."The share price fell 2.91% to 50p at 1258 GMT on Wednesday.