Redcentric: Yorkshire IT firm sees earnings land ahead of expectations as it appoints new CFO
Yorkshire-based IT services provider, Redcentric, has seen its earnings land ahead of expectations as the company announced the appointment of a new chief financial officer.
Redcentric said it expects to post adjusted earnings before interest, taxes, depreciation and amortisation from its managed service provider arm of around £17.5m for the full year, up from expectations of £17.2m.
It came as the firm announced that revenues for its managed service provider business had totalled around £132.1m for the year, down slightly from £135.1m a year prior.
Speaking on the results in a statement, Michelle Senecal de Fonseca, CEO of Redcentric, said: “I am pleased to report that we have delivered Adjusted EBITDA ahead of expectations.
“This reflects strong operational execution, disciplined cost management, and the successful delivery of our strategic priorities.”
It comes after April saw Redcentric dispose of its data centre arm to Stellanor Datacenters Group Limited.
The move saw the company shift away from the data centre sector to focus on becoming a “pure-play” managed service provider.
The company said that an initial cash receipt of £115.4m for the disposal had seen its net cash position “significantly” strengthened.
As of 29 May, the group held a net cash position of £77.9m.
Ms Senecal de Fonseca added: “With a significantly strengthened balance sheet following the data centre disposal, we are well positioned to accelerate growth and deliver sustainable value for shareholders in FY27 and beyond.”
News on the company’s earnings came as it also announced that it had appointed Tim Sykes as its new chief financial officer and executive director with immediate effect.
Mr Sykes is an experienced CFO with over 30 years of financial experience, including 15 years as CFO of AIM listed Proactis Holdings plc.
He previously served concurrently as CFO at Avacta Group plc, Eleco plc and Altitude Group plc.
Most recently, Mr Sykes served as CEO of Proactis, where he led the company through a successful take private transaction, then subsequently joined Aptamer Group plc as a non-executive director.
He replaces Tony Ratcliffe, who joined the group in August 2025 on a fixed-term contract to support the sale of the data centre business and the transition to a managed service provider.
Redcentric said Mr Ratcliffe will remain with the business for a period to “support an orderly transition”.
Speaking on the appointment, Ms Senecal De Fonseca said: "I am delighted to welcome Tim to the Redcentric Board.
“His extensive experience in scaling technology companies, executing merger and acquisition transactions and driving shareholder value on AIM will be highly valuable as we focus on accelerating growth in our managed service provider business.
“I would also like to thank Tony Ratcliffe for his significant contribution during a transformational period for the Group, and we wish him well with his future endeavours."