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SysGroup profits grow after Rockford IT acquisition

Wednesday, 27th June 2018
IT services and cloud-hosting provider SysGroup said it doubled adjusted annual profits after an acquisition helped boost sales.

Adjusted pre-tax profit in the year through March grew to £0.49m, up from £0.24m a year earlier.

On a statutory basis, pre-tax losses narrowed to £7k, compared to a £1.35m loss a year earlier.

The statutory figure included share-based payments and costs relating to acquisition and restructuring, the company said.

Revenue grew 46% to £10.45m following the acquisition of Rockford IT, while organic revenue grew 21%.

At 8:36am: (LON:SYS) Sysgroup Plc share price was +2p at 41.5p

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