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SYSGROUP POSTS 18 PER CENT PROFIT INCREASE IN ANNUAL RESULTS

June 21st, 2021 In Press Release by Emily Pipkin

SYSGROUP POSTS 18 PER CENT PROFIT INCREASE IN ANNUAL RESULTS

  • Managed IT services and cloud hosting company SysGroup plc (SysGroup) has announced an 18 per cent rise in profits in its latest set of annual results.
  •  Profits (adjusted PBT) for the year end 31 March 2021, increased to £2m, up from £1.7m for the year end 31 March 2020, with gross profit at £10.5m.
  •  Revenue for the Liverpool-headquartered company was reported at £18.1m, demonstrating its resilience amid the backdrop of the coronavirus pandemic and cementing a positive position for the year ahead.

The news follows SysGroup’s organic growth plan with its recently announced expansion into the heart of Manchester city centre. The office, which will become the company’s northern sales and marketing hub, will see SysGroup create up to 10 new roles in the first 12 months, with plans to create an additional 20 roles in the next three years.

 The 125-strong AIM-listed group has several established bases around the UK, including its Liverpool headquarters as well as offices in London, Newport and Telford. It offers flexible IT solutions to a growing list of customers across sectors including financial services, insurance, retail, technology, not-for-profit, education and healthcare. Current clients include TJ Morris (trading as Home Bargains), Admiral and Confused.com.

 The results also noted that, during the pandemic, the Group’s focus was on the full integration of its recent acquisitions. In the last three years, CEO Adam Binks has led a number of transactions, including the £9m purchase of Certus IT in February 2019, Hub Network Services for £1.45m in June 2019 and Telford-based Rockford IT in 2018. These mergers have enabled SysGroup to provide its unrivalled service to clients around the UK through geographic expansion into South Wales and Telford, as well as significantly enhancing its capabilities in delivering managed security solutions and enterprise-grade managed connectivity services.

 Adam Binks, CEO of SysGroup, said: “The business has performed well over the last year given the significant challenges posed by a full 12-month period of lockdown restrictions. Improved profit and steady revenue figures, despite ongoing investment for the future growth of SysGroup, reflect our high levels of recurring revenues and strong operational controls. Further I must once again pay testament to our fantastic team who have worked tirelessly throughout this exceptionally challenging time to ensure that SysGroup continues to thrive and both the Board and I are extremely grateful for their efforts.

“The pandemic has made our industry more relevant than ever so as lockdown restrictions ease and greater economic certainty returns, I have no doubt that investment into IT will be a major priority for many business leaders, as the pandemic has made our industry more relevant than ever. With a clear market focus and with the operational developments made over the past year, SysGroup is well placed to take advantage of this anticipated growth. The strength of our balance sheet and our supportive investor base will also enable us to continue to be a consolidator in a fragmented, growing market, and I look forward to the future with confidence.”

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About SysGroup

SysGroup is a multi-award winning managed IT services & cloud hosting provider listed on the AIM market of the London Stock Exchange (LSE:SYS).

SysGroup delivers solutions using best of breed, industry leading technologies all of which are architected, supported and maintained by our highly skilled in-house teams. SysGroup focuses on the UK mid-market and works with its customers to drive strategic and operational IT change, providing secure, cost effective services from a range of platforms. 

 SysGroup maintains a number of strategic partnerships and accreditations with leading technology vendors including, Dell (Gold), WatchGuard (Platinum), Veeam (Gold), Kaspersky (Gold), Microsoft (Gold Datacentre), VMWare, Mimecast and Zerto. Accreditations include ISO 27001:2013 and ISO 9001:2015 for quality management and Visa Level 1 Merchant Service Provider status to underpin our PCI:DSS hosting capabilities.

 SysGroup has offices in Liverpool, London, Manchester, Newport and Telford.

For more information, visit www.sysgroup.com

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