EBITDA also hit £1m at the stock market-listed firm which during the year secured a three-year £1m contract win with Liverpool-based value retail chain Home Bargains. Tony McDonough reports
Liverpool-based IT services and cloud host provider SysGroup has delivered record full-year results with revenues soaring 45.7% to £10.45m.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) also took a big 61.3% leap to £1m in the 12 months to March 31, 2018.
The results, which show organic revenue growth of 21%, follow the acquisition and integration of Rockford IT and a three-year £1m contract win with Liverpool-based value retail chain Home Bargains (TJ Morris).
With its headquarters in Liverpool’s Exchange Flags, SysGroup has recently unveiled a corporate re-brand to unify the four brands it has acquired over the last three years.
It has also increased its headcount by 168% in the last two years with plans in place to grow the team further across its Liverpool, London and Telford sites.
To execute the stock market-listed firm’s growth strategy, Adam Binks was appointed as chief executive in April of this year, while Mike Fletcher and Mark Quatermaine were appointed as non-executive directors.
Mr Binks said: “For the first time as CEO, I am delighted to share what has been a transformational year for SysGroup. Through excellent traction gained in the second half of the year, we have delivered on market expectations whilst continuing to grow the team, service offering and customer base.
“Our sales pipeline continues to grow, and I am confident we are now well placed to take advantage of the strong market dynamics as the demand for managed IT services and cloud hosting continues to grow.”