SysGroup enjoys revenue boost

By James Pugh | Telford | Business | Published:

IT services and cloud hosting provider SysGroup has seen revenue rise 22 per cent in its latest financial results.

Headquartered in Liverpool, and with offices in Telford, London and Coventry, the group saw revenue increase to £12.8 million for the year ending March 31 – up from £10.5 million the previous year.

Pre-tax losses for the year amounted to £0.83 million, compared to losses of £0.01 million on-year.

During the period the company secured new five-year bank facilities and completed an office revamp.

In February 2019, it also acquired Certus IT in an £8 million deal and raised £10 million through a share placing.

Chief executive Adam Binks said: "I am delighted to announce another solid year for the group, in which we delivered double digit growth in revenue and adjusted profit as well as achieving a number of strategic milestones.

"Our scale, customer base and geographical coverage have grown considerably and, importantly, so too has the quality of our revenue streams.

"We are beginning to see the benefits of our investment in sales and marketing and are well positioned to meet the complex requirements of our customers and prospects.

"The post period acquisition of Hub Network Services announced earlier this week also further underpins our capabilities in being able to source and deliver complementary acquisitions which is pivotal to the successful delivery of our stated strategy."

James Pugh

By James Pugh

Shropshire Star Business and Farming Editor.


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