Redcentric reports strong growth in profitability

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REDCENTRIC, the IT managed services provider, said it achieved like-for-like organic revenue growth of 8 per cent last year.

The group, which has operations in Yorkshire, reported sales of £94.3m for the year ending March 2015.

Redcentric said adjusted earnings before interest, tax, debt and amortisation of £21.4m, up from £10.5m the previous year.

It said the impressive growth in profitability has been driven by synergies arising from the integration with Harrogate-based InTechnology Managed Services, which was acquired in December 2013, as well as an improved revenue mix and the benefits of increased scale in delivering service to customers efficiently.

Chris Cole, chairman of Redcentric, said: “I am very pleased with these results.

“We have created a powerful platform which is producing significant levels of recurring revenue and organic growth.”

Tony Weaver, chief executive of Redcentric, said: “We focus on partnering with our customers to deliver them business building outcomes through our wide range of solutions: the growth in our recurring revenue demonstrates the strength of that partnership.

“We are progressing well in our aim to become the preferred IT managed services provider to the UK mid-market.

“We have considerable momentum in the business and I look to the future with confidence.”