Redcentric cuts through net debt in first half of trading

(Sharecast News) - British IT services provider Redcentric told investors on Thursday that trading had been in line with expectations throughout the first half of its trading year.Redcentric said its continued focus on delivering reliable services for its clients while improving operational performance had helped it maintain strong cash flows throughout the period.As a result, Redcentric said it had successfully reduced net debt from £27.7m to £22.6m in the six months leading to 30 September 2018.The AIM-listed outfit will report its interim results on 22 November.In its previous full-year results, Redcentric reported revenues of £100m, of which approximately 87% was recurring, and an EBITDA of £18.1m.As of 0855 BST, Redcentric shares had inched back 0.36% to 88.68p.