SysGroup Outlook Confident, Annual Earnings To Grow Significantly

LONDON (Alliance News) - SysGroup PLC on Wednesday expressed confidence for the year ahead ...

Alliance News 24 April, 2019 | 9:36AM
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LONDON (Alliance News) - SysGroup PLC on Wednesday expressed confidence for the year ahead following double-digit growth in earnings in its recently ended financial year.

The stock was trading 3.0% higher on Wednesday at 40.18 pence a share.

The IT services provider expects to report both revenue and earnings before interest, taxes, depreciation, and amortization in line with forecasts, up 22% and 40% on the prior year. In the 12 months to the end of March 2018, SysGroup generated revenue of GBP10.5 million and adjusted Ebitda of GBP1.0 million.

After the end of its financial year, the company acquired Certus IT Ltd, which is trading as Certus Technology Group and providing managed information technology services.

The process of integration is now underway, SysGroup said, and the company expects Certus to be trading under the SysGroup brand later in the year.

"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," said Chief Executive Adam Binks.

"We will continue to invest in the group and in our people throughout the course of financial 2020 and I am confident that we will see shareholder returns as a result," added Binks.

SysGroup expects to publish its full-year results on June 26.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
SysGroup PLC 44.00 GBX 4.76 -
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