Skip to main

You are here

SysGroup reports lower sales and profits

SysGroup reports lower sales and profits

SysGroup saw overall sales go down for the six months ended 30 September, but managed service sales went up.

The MSP and VAR said total sales decreased 3% to £10.96m, and managed IT services saw revenue growth of 8%, representing 84% of total revenue (last time managed business represented 75%).

The overall adjusted EBITDA was £1.57m, down from £1.68m last year. The adjusted profit before tax was £0.99m, against £1.10m before.

The statutory loss before tax jumped to £1.09m from £0.19m.

A new strategy came in the first half to provide end‐to‐end solutions focused on artificial intelligence and machine learning, with an associated investment in a team of ML engineers from AWS, JP Morgan, Validus and McLaren.

Heejae Chae was appointed as executive chair and Paul Edwards as a new non‐executive director.