Business
Preliminary Results
Preliminary Results.
About this update from Cloudcoco Group Plc
[{"type":"text","content":"\n \nRNS Number : 0659C adept4 plc 17 January 2018 \n\nAdept4 plc \n(\"Adept4\", the \"Group\" or the \"Company\")\n \nPreliminary results for the year ended 30 September 2017\n \nAdept4 plc (AD4) the AIM quoted provider of IT as a Service is pleased to announce preliminary results for the year ended 30 September 2017.\n \nHighlights for the year\n \nFinancial\n• Revenues of £10.3m (FY16: £4.9m1)\n• Gross profit margin of 60% (FY16: 62%)\n• Recurring revenues of £7.3m (FY16: £3.2m), representing 71% of total revenues (FY16: 65%)\n• Recurring gross profit covers 96% of trading overheads²\n• Adjusted trading Group EBITDA³ of £1.5m (FY16: £0.9m1)\n• Trading Group EBITDA⁴ of £1.2m (FY16: £0.9m)\n• Group EBITDA of £0.6m (FY16: £0.1m)\n• Loss before tax for the year of £0.8m (FY16: £1.4m)\n• £2.9m cash at bank at 30 September 2017 (FY16: £4.3m) resulting in net debt of £2.0m5 (FY16: £1.6m)\n \nOperational\n• Creation of single operating platform: one system, one operational structure, one brand, one website and one business \n• Significant revenue growth in key Microsoft areas of Azure and Office 365\n• Increased offering of complementary solutions, building on our Microsoft and telephony legacy through successful reseller partnerships, yielding results\n \nPost-year-end highlights \n• Addition of further complementary solutions to the portfolio to enhance our IT Security offering as part of ITaaS\n• Further management changes to strengthen the day to day operational management of the business and enhance credibility in cloud services\n \n1 From continuing operations.\n2 Other operating expenses before head office and plc costs.\n3 Adjusted trading Group EBITDA represents earnings before interest, tax, depreciation and amortisation, share-based costs, separately identifiable costs and head office and plc costs of £0.9m (FY16: £0.8m).\n4 Trading Group EBITDA represents earnings before interest, tax, depreciation and amortisation, share-based costs, separately identifiable costs and plc costs of £0.6m (FY16: £0.8m).\n5 Net debt represents cash and cash equivalents of £2.9m (FY16: ...