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  2. Share Prices
  3. Redcentric Share Price
  4. Redcentric Share Regulatory News
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Pin to quick picksRedcentric Regulatory News (RCN)

Redcentric Information

Share Price Information for Redcentric (RCN)

Share Price is delayed by 15 minutes
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126.00    -2.00 (-1.56%)
Bid:
126.00
Ask:
129.00
Spread: 3.00 (2.381%)
Market Cap: £200.74m
RCN Live PriceLast checked at - London Stock Exchange

Intraday Redcentric Share Chart

Trading Update

15 Oct 2020 07:00

RNS Number : 9415B
Redcentric PLC
15 October 2020
 

Redcentric plc

("Redcentric" or the "Company")

Trading Update

Redcentric plc (AIM: RCN), a leading UK IT managed services provider, today announces a pre-close trading update for the six months ended 30 September 2020.

Trading Update

Trading for the half year has been slightly ahead of the board's expectations and the Company has continued to focus on delivering reliable services and solutions for its new and existing customers, growing revenues and improving operational performance and efficiency. The data centre and network restructuring programme has been successfully completed and, as a result, the Company will benefit from slightly increased annualised cost savings. The Company has also successfully launched a new enterprise resource planning ("ERP") system, replacing five legacy operational systems, which provides the Company with a single, scalable integrated platform yielding significant benefits in the future.

The Company's net debt at 30 September 2020, excluding leases previously classified as operating leases under IAS17, was £1.1m (31 March 2020: £13.5m) reflecting continuing strong cash collections and £4.2m of net cash benefit as a result of the equity placing to raise £5.8m (the "Placing") to part fund the restitution scheme announced on 26 June 2020. To date, the net proceeds of the Placing have exceeded the amount of restitution claims and advisory costs paid out. Whilst the Company initially took advantage of the government's Covid-19 VAT deferral scheme, this was repaid in full by 30 September 2020.

Total net debt as at 30 September 2020, including £15.9m of liabilities previously classified as operating leases under IAS17, is expected to be £17.0m (31 March 2020: £34.5m).

The Company continues to monitor government recommendations relating to COVID-19 in both the UK and India and is taking all safety precautions necessary to ensure the continued wellbeing of its customers and employees. The majority of employees continue to work remotely, and no employees have been furloughed to date.

The Company intends to announce its results for the half year ended 30 September 2020 on Thursday 17 November 2020.

 

Enquiries:

Redcentric plc +44 (0)800 983 2522

Peter Brotherton, Chief Executive Officer

David Senior, Chief Financial Officer

finnCap Ltd - Nomad and Broker +44 (0)20 7220 0500

Marc Milmo / Simon Hicks / Charlie Beeson (Corporate Finance)

Andrew Burdis / Sunila de Silva (ECM)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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Date   Source Headline
8th Mar 20175:15 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
6th Mar 20174:58 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
3rd Mar 20172:13 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
3rd Mar 201710:47 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
1st Mar 20174:06 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
1st Mar 20179:23 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
6th Feb 20173:22 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
30th Jan 20177:00 amRNSNHS contract win
26th Jan 20172:17 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
23rd Jan 20177:00 amRNSExercise of Options
19th Jan 20172:51 pmRNSHolding(s) in Company
17th Jan 20174:01 pmRNSHolding(s) in Company
10th Jan 20177:00 amRNSAppointment of Non-Executive Director
3rd Jan 20172:34 pmRNSDirector/PDMR Shareholding
30th Dec 201612:55 pmRNSIssue of options (revised)
30th Dec 201612:47 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
29th Dec 20164:56 pmRNSIssue of Options
29th Dec 20162:14 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
29th Dec 20169:54 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
23rd Dec 20167:00 amRNSInterim results to 30 September 2016
19th Dec 20164:55 pmRNSHolding(s) in Company
19th Dec 20164:30 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
19th Dec 201611:46 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
15th Dec 201611:57 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
15th Dec 20168:12 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
13th Dec 20163:07 pmRNSUpdate on forensic review and remedial action plan
7th Dec 20163:35 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
7th Dec 20161:59 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
2nd Dec 201611:08 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
28th Nov 20168:02 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES i
24th Nov 20164:57 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
24th Nov 20161:38 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
23rd Nov 20166:05 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
23rd Nov 20167:00 amRNSAppointment of Chief Financial Officer
22nd Nov 20165:31 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
22nd Nov 20165:08 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
21st Nov 20166:05 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
21st Nov 20166:05 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
18th Nov 20163:20 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
18th Nov 20168:21 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
15th Nov 20167:00 amRNSAppointments to support forensic review
11th Nov 20164:26 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
10th Nov 20163:37 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
10th Nov 201610:33 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
9th Nov 20163:35 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
9th Nov 20163:04 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
9th Nov 20162:11 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
9th Nov 20161:46 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
8th Nov 20163:09 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
8th Nov 20163:08 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
45678910111213

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