Last checked at 24 Apr 2019 07:00
24 April 2019
SysGroup plc
("SysGroup" or the "Group")
Trading Update and Notice of Results
SysGroup (AIM:SYS), the award-winning managed IT services and cloud hosting provider, is pleased to provide a trading update for the year ended 31 March 2019, together with a notice of results.
Group trading performanceThe Group is pleased to report that both revenue and adjusted EBITDA will be in line with management's expectations having grown by approximately 22% and 40% respectively since FY18. The results will underpin the Group's stated strategy of focusing on the provision of end-to-end Managed IT Services with recurring revenue now representing approximately 74% of the Group's total revenue.
The Group acquired Certus IT Limited ("Certus") towards the end of the period and is pleased to report that trading performance from Certus is in line with management's expectations. The process of integration is now underway, and we expect Certus to be trading under the SysGroup brand later in the year.
Notice of ResultsSysGroup expects to publish its full year results for the year ended 31 March 2019 on 26 June 2019.
Adam Binks, Chief Executive of SysGroup commented:"It has been an exciting first year at the helm of SysGroup, and I am pleased with the progress that we have made on our journey to become the leading provider of managed IT services and cloud hosting. We've spent a considerable amount of time getting to know our customers and understanding the challenges they face within their own businesses so that we can develop leading solutions that offer real value. I'm also delighted to have welcomed the Certus team on-board following the acquisition earlier this year. We will continue to invest in the Group and in our people throughout the course of FY20 and I am confident that we will see shareholder returns as a result."
For further information please contact: SysGroup plc Adam Binks, CEOMartin Audcent, CFO
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Tel: 0151 559 1777
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Shore Capital (Nomad and Broker) Edward MansfieldDaniel BushAnita Ghanekar
| Tel: 020 7408 4090 |
Alma PR (Financial PR) Josh RoystonHilary BuchananHelena Bogle
| Tel: 020 3405 0205 |
About SysGroup
SysGroup is a leading provider of Managed IT Services, Cloud Hosting, and expert IT Consultancy. The Group delivers solutions that enable clients to understand and benefit from industry leading technologies and advanced hosting capabilities. SysGroup focuses on a customer's strategic and operational requirements - enabling clients to free up resources, grow their core business and avoid the distractions and complexity of delivering IT services.
The Group has offices in Liverpool, Coventry, London, Telford and Newport.
For more information, visit http://www.sysgroupplc.com