Business
Preliminary Results Announcement FY18
Preliminary Results Announcement FY18.
About this update from Redcentric Plc
[{"type":"text","content":"\n \nRNS Number : 8308S Redcentric PLC 28 June 2018 \n\n28 June 2018\n \nRedcentric plc\n(\"Redcentric\" or the \"Company\")\n \nPreliminary results announcement for year ended 31 March 2018\n \nRedcentric plc (AIM: RCN), a leading UK IT managed services provider, today announces its full year results for the year ended 31 March 2018.\n \nSUMMARY\n \n· The Company traded in line with the Board's expectations\n· Strong cash performance with 125% cash conversion and a reduction in net debt of £11.8m\n· Profit growth through sustainable management of costs\n \n FINANCIAL HIGHLIGHTS\n \n· Revenue of £100.0m, including £87.1m (87.1%) of recurring revenue \n· Adjusted EBITDA* of £18.1m (FY17: £17.3m) and adjusted EBITDA margin* of 18.1% (FY17 16.5%)\n· Non-recurring charges significantly reduced to £1.7m (FY17 £5.5m)\n· Adjusted basic EPS** of 4.35p (FY17: 4.45p). Statutory EPS of 0.34p (FY17: (1.60p))\n· Adjusted cash flow from operations of £22.6m (FY17: £9.4m)\n· Net debt of £27.7m (FY17: £39.5m)\n \n \n *Earnings before interest, tax, depreciation, amortisation of acquired intangibles, non-recurring costs and share based payments.\n \n ** Adjusted EPS excludes amortisation of acquired intangibles, non-recurring costs and share based payments and a notional tax charge at the full rate of corporation tax.\n \n OPERATIONAL HIGHLIGHTS\n \n· Key enterprise customers retained\n· Notable new business wins\n· Strong control over costs\n· Senior management team strengthened\n \nThere will be a presentation for analysts at 09:30hrs on 28 June 2018 at the offices of Numis Securities, 10 Paternoster Square, London, EC4M 7LT. Please contact [email protected] if you would like to attend. \n \nChris Cole, Chairman, commented:\n \n\"During the year we have taken decisive action to allow Redcentric to take advantage of the many opportuni...