Redcentric has announced it is well-positioned for future growth after a productive year, with the firm stating it’s now nearing the historical levels it experienced before the outbreak of the pandemic.
The UK-based IT managed-services provider said that revenue rose to £93.1m ($116.8m), in line with expectations, for the financial year ending March 31, 2022. However, adjusted EBITDA fell to £24m from £24.6m, the firm reported.
Redcentric said that new sales orders during the second half of the year improved significantly from the first half, and is seeing a resumption of large-scale projects.
"These results reflect the resilient nature of the business and are more impressive given the challenges associated with high electricity prices, equipment shortages, a tight labour market and difficult trading conditions during the pandemic,” said CEO Peter Brotherton. “After several years of repositioning the business, we’re now totally focused on both organic and inorganic growth [and] we’ve demonstrated we can make highly accretive acquisitions both in terms of profitability and capability, and our new £100m bank facility, supported by our strong cash generation, will enable us to continue to invest in our business."
The firm has made significant investments in its networks, platforms, data centres and operational systems during the past three years, and its new divisional structure will drive organic growth across the non-network services areas of the business.
Redcentric said it intends to announce its results for the financial year on July 21.
