£1m contracts boost Redcentric as it announces changes at the top

​IT services provider Redcentric ​said the award of a number of significant new contracts means the ​​strong start to trading seen earlier in the year has continued through ​the first half.
By The Newsroom
Published 30th Sep 2015, 17:21 BST

​The ​Harrogate-based ​firm has won five contracts worth over £1m with both Government and commercial clients.

The group added that the integration of Calyx Managed Services, bought in April, has progressed to plan and the financial benefits of the acquisition will be felt in full in the second half of the year.

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The group said cash generation remains strong and the company has substantial headroom in its recently renewed banking facilities.

The company also announced that Fraser Fisher, currently chief operating officer, is to be appointed CEO, succeeding Tony Weaver, who will remain as a non-executive director.

Chairman Chris Cole said: “Redcentric is trading strongly. The high level of recurring revenue, increasing traction in the £1m plus contract market and the successful integration of Calyx all combine to give the board confidence in the company’s prospects.”

He added that new CEO Mr Fisher has a wealth of operational experience.

Related topics:GovernmentHarrogate