Business
Interim Results to 31 March 2016
Interim Results to 31 March 2016.
About this update from Cloudcoco Group Plc
[{"type":"text","content":"\n \nRNS Number : 5955C adept4 plc 29 June 2016 \n\nadept4 plc (\"adept4\", the \"Group\" or the \"Company\")\nInterim Results for the six months ended 31 March 2016\nadept4 plc (AIM: AD4), the AIM listed provider of IT as a Service, today announces its unaudited interim results for the six months ended 31 March 2016.\n \n\n\n\n\nFinancial Summary\n\n\nUnaudited \n6 months to\n31 March\n2016\n\n\nUnaudited\n6 months to\n31 March\n 2015\n\n\n\n\n\n\n\n£\n\n\n£\n\n\n\n\nRevenue from continuing operations 4\n\n\n830,577\n\n\n-\n\n\n\n\nGross Profit from continuing operations 4\n\n\n462,186\n\n\n-\n\n\n\n\nGross Profit Margin %\n\n\n55.6%\n\n\n-\n\n\n\n\nAdjusted Trading Group EBITDA¹\n\n\n166,132\n\n\n-\n\n\n\n\nAdjusted Group EBITDA²\n\n\n(138,919)\n\n\n(198,068)\n\n\n\n\nNet Cash³\n\n\n1,439,108\n\n\n193,197\n\n\n\n\nNet Assets\n \n\n\n6,597,826\n\n\n320,793\n\n\n\n\nLoss for the period\n\n\n(695,338)\n\n\n(521,524)\n\n\n\n\nOne-off Reorganisation costs\n\n\n(458,338)\n\n\n-\n\n\n\n\n \nOperational Highlights\n· Acquisitions of Ancar-B Technologies Limited (\"Ancar\"), provider of IT support services and Weston Communications Limited (\"Weston\"), provider of telecoms and IT support services, in February 2016\n· Placing and open offer raising gross proceeds of £4.80 million in February 2016 to fund cash element of acquisition of Ancar and provide working capital\n· Acquisition of 70% shareholding not already held in Accent Telecom North in March 2016\n· Disposal of stake (40%) in Stripe 21, a provider of voice over IP software, a non-core asset, for £0.4 million in March 2016.\n Post Period End Highlights\n· Disposal of RMS Managed Security IT Limited in May 2016\n· Disposal of trade and assets of Pinnacle CDT Limited in May 2016 for gross proceeds of\n£2.8 million\n· Acquisition of adept4 Limited, provider of IT as a Service, in May 2016 with associated issue of £5 million loan notes to the Business Growth Fund plc\n· Change of name to adept4 plc in June 2016\nCommenting on the results, Gavin Lyons, Executive Chairman stated: \"Since I was appointed in December 2015, our entire focus has been on the...