Harrogate IT firm Redcentric is trading ahead of pre-Covid levels

Reported operating profit at the Harrogate-based business was £3.3m, up 6.5 per cent from £3.1m last year. However, total revenue was down 4.1 per cent from £46.2m to £44.3m.

Redcentric completed its acquisition of cloud services provider Piksel on September 29, 2021. The move significantly enhances the Redcentric's cloud services proposition and provides full access to the strongest growth areas of the market, the firm said.

The integration of Piksel is currently ahead of plan with £700,000 of annualised cost savings already realised and further annualised savings of at least £400,000 to be realised for the next financial year.

The firm added that it was continuing to work to identify further acquisitions for both scale and capability.

Peter Brotherton, CEO of Redcentric, said: "The business continues to perform well and is trading significantly ahead of the pre-Covid period.

"The strategically important acquisition of Piksel completes our cloud services offering and gives us full access to the highest growing areas of the market.

"After just six weeks, the integration of Piksel is significantly ahead of plan with £700,000 of annualised synergies already realised and confidence in delivering further substantial savings.

"The sales pipeline is slowly recovering, and the increasing number of customer interactions is encouraging. November 2021 is on target to be the best month for new sales orders this calendar year and we are hopeful that this is indicative of a return to more normalised trading levels.

"The company will continue to pursue acquisition opportunities for both scale and capability and the board expects the full year results to be in line with its expectations."

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