Managed security services supplier Shearwater Group has reported a positive start to the year. Sales for first half were up 8% year-on-year to £11.3m.
The growth was driven by the services division, up 10% to £10.2m, with multi-year wins with blue-chip organisations across telecoms, financial services and media companies.
But the software business saw a revenue decline of -3% to £1.1m. Despite that, the company reported key client wins in the half, including a three-year contract to provide multi-factor authentication for securing remote access to a supplier that provides services to the UK Ministry of Defence.
-At data centre services provider and MSP, Redcentric, sales were up 5.8% to £86.8m in the first six months to the end of September. Recurring revenue accounted for around 90% of total revenue, and growing 4.6%.
The company reported progress in its four key strategic objectives, namely, sustaining organic growth, improving operational efficiencies, making more upgrades to it data centres, and separating the business into the two main segments - data centres and MSP services.
Redcentric added it is seeing “large-scale” opportunities to provide data centre space to host AI cloud platforms.
-Nvidia, the most valuable company in the world, published its earnings for the third quarter of the fiscal year. The manufacturer of AI chips exceeded analyst estimates, with revenues amounting to just over $35 billion, beating estimates of $33.2 billion. Additionally, the net income reached $19.3 billion, also above predictions of $17.4 billion.
Kate Leaman, chief market analyst at AvaTrade, said of the performance: “Nvidia continues to demonstrate why it's such a dominant force in the AI-driven tech space. Its Q3 earnings report was impressive, highlighted by a staggering 112% year-over-year growth in its data centre segment, which generated $30.8 billion. It's clear that Nvidia’s AI chips are in high demand, fuelling its ongoing success.”
She added: “Nvidia’s guidance for Q4 revenue of $37.5 billion, slightly exceeding Wall Street projections, suggests confidence in continued momentum.”
-Sage, the provider of financial software to the SMB market, and a big channel player, posted its results for the year ending September 2023, with revenue growth of 7% to £2.33 billion. There was also a 43% increase in operating profits to £452m.
Annualised recurring revenue grew 11% to £2.33 billion. There was a £400m share buyback programme, reflecting Sage’s strong cash generation and robust financial position.
Sage’s growth was underpinned by the continued adoption of Sage Cloud Business products, which delivered a 16% increase in revenue, including a 23% rise in cloud-native revenue to £732m.
Sage Copilot, a generative AI-powered assistant, has now reached more than 8,000 UK customers, helping them improve productivity and efficiency, said the provider.
