Business
Supplementary Disclosure
Supplementary Disclosure.
About this update from Redcentric Plc
[{"type":"text","content":"\n \nRNS Number : 1889P Redcentric PLC 30 September 2013 \n \n\n \n30 September 2013\n \nREDCENTRIC PLC \n(\"Redcentric\" or the \"Company\" or the \"Group\")\n\nSUPPLEMENTARY FINANCIAL TRACK RECORD DISCLOSURE FOR SIX MONTHS ENDED 31 MARCH 2013 \nRedcentric plc (AIM:RCN.L), a leading end to end managed service provider delivering innovative technology to improve business productivity and efficiency, today provides a summary of the trading performance of certain of its businesses prior to the incorporation and subsequent Admission to AIM of Redcentric plc. The Company is required by the AIM Rules to issue further financial information for the six months to 31 March 2013 on the Group on the same basis as the carve out Financial Information disclosed in the AIM Admission Document dated 18 April 2013 (\"Admission Document\") issued in relation to the admission of Redcentric ordinary shares on AIM.\n \nThe results do not reflect the current structure and cost base of the Company but rather the combined performance of these businesses as constituent parts of Redstone PLC. It should be noted that the combined carve out numbers presented exclude the performance of certain trading activities that were not demerged from Redstone PLC, but which are now undertaken by Redcentric, in particular the ICT Projects business. \nHighlights:\n· Adjusted EBITDA* on a carve-out basis, increased by 78% to £1.9 million (H2 2012: £1.1m) reflecting the successful restructuring of the businesses operations and cost savings made\n· Results presented exclude approximately £4 million of ICT project revenues \n· Trading in the period from 30 September 2012 to 31 March 2013 remained consistent with the six month period preceding, as presented in the Admission Document. The significant re-organisation in preparation for the demerger of the businesses that now form Redcentric from Redstone plc (\"the Demerger\") resulted in management accelerating the restructuring programme that was undertaken post the acquisition of Maxima Holdings plc. It is estimated that in excess of £4 million of annualised cost savings will have been achieved following the Demerger at a cost of less than £2.5 million. These savings are not fully reflected in these results\n·...