(Alliance News) - Redcentric PLC on Wednesday reported a reduction in debt in the first half of its current financial year, despite increased expenditure.
The IT managed services provider said trading for the six months to the end of September has been in line with expectations, and it remains focussed on its new and existing customers in both the public and private sectors.
Redcentric reported net debt as at September 30 of GBP16.5 million, lower than GBP17.6 million at March 31, despite dividend payments of GBP1.5 million and an acceleration of network and infrastructure capital expenditure.
Redcentric said it will announce its results for the half-year on November 28.
The stock was trading 1.2% lower on Wednesday in London at 85.00 pence a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Redcentric (RCN)