Business
Final Results For The Year Ended 31 March 2017
Final Results For The Year Ended 31 March 2017.
About this update from Shearwater Group Plc
[{"type":"text","content":"\n \nRNS Number : 9078P Shearwater Group PLC 06 September 2017 \n\n6 September 2017\n \nSHEARWATER GROUP PLC\n(\"Shearwater\" or the \"Company\" and, together with its subsidiaries, the \"Group\")\n \nFinal Results for the year ended 31 March 2017\n \nShearwater Group plc (AIM: SWG), the digital resilience group, is pleased to announce its audited results for the year ended 31 March 2017, a period prior to the acquisitions of SecurEnvoy and Newable Consulting.\n \nHighlights (including activities after the financial year end)\n \n§ Established Shearwater's senior leadership team and launched the Group's digital resilience strategy\n§ Raised £16.5 million in gross proceeds to be used for acquisitions and organic growth initiatives\n§ Successfully completed the first two acquisitions under the Group's new strategy\no In May 2017, acquired SecurEnvoy for £20 million\no In July 2017, acquired Newable Consulting for £0.6 million, subsequently rebranded Xcina Consulting\n§ Established the Group's new information security and assurance solutions business, Xcina\n \nCommenting on the results, David Williams, Chairman of Shearwater Group said: \"2017 and the start of the new financial year have been transformational for the Company. Following our interims in December 2016 we have established the foundations which have supported the launch of our new digital resilience strategy and we are now ideally positioned to realise the benefits of the considerable market opportunities we are seeing as a business.\n \n\"We are delighted to have completed the first two acquisitions of what we expect to be many under our new strategy and these have now fully transitioned across to the Group. As we move through the new financial year, we continue to focus on securing new acquisition and investment opportunities from our pipeline alongside delivering the ambitious growth plans we have for our first two portfolio companies.\"\n \nThe Annual Report and Financial Statements for the year ended 31 March 2017 and the Notice of Annual General Meeting will be posted to shareholders shortly and will be available immediately on the Company's website www.theshearwatergroup.co.uk. \n \nThe Annual General Meeting will be held at 11.00 a.m. on 29 September 2017 at the offices of the Company's s...