Tue, 19 Apr 2022 | BUSINESS NEWS
IT firm SysGroup says that it is continuing to plan for organic and acquisitive growth, despite being set to post a drop in revenues. The group said that it expects its trading update for the period to March 31 2022 to show a decline in revenue, as customers push back plans to invest in IT-related projects.
The Liverpool-based company provides managed IT services, IT consultancy, cloud migration and hosting, as well as cyber security for a range of high-profile clients including Sega, Screwfix, Admiral, Holiday Inn and Home Bargains.
Despite seeing its turnover impacted by external factors affecting the wider IT sector during the COVID-19 pandemic, SysGroup has also said that it expects to report adjusted EBITDA of £2.8 million, which the company says is broadly “in line with market expectations”. The company also added that it has strong revenues from managed services and sustainable margins.
According to SysGroup, its EBITDA figures reflect the business’ underlying strength, as a result of its strong operational management and acquisition synergies. Due to this, the company says it is in a position to continue targeting organic and acquisitive growth.
CEO Adam Binks commented: "This is a very robust performance given the headwinds faced for a prolonged period of time. Our business has proved to be resilient which reflects both the quality of our offering and the core nature of the services that we provide.”
"The strong EBITDA performance and cash generation demonstrate the operational strength and financial discipline of the group and investments in prior periods mean that we are ready to scale as conditions improve. We will do so both organically and through further earnings enhancing M&A, as evidenced by the post year end acquisition of Truststream Security Solutions."
Edinburgh-headquartered Trustream, a managed cyber security services provider, was acquired earlier this month in a deal potentially rising to £8.5 million.
Find businesses for sale here.
If you are looking for an exit, we can help!
Printed electronics is next generation technology for the continuous process manufacturer of electronic devices. This technology will enable smaller, thinner and lighter devices that are less expensive to manufacture due to higher yields and continuo...
The company has developed an innovative cloud-based platform for organisations looking to recruit talented individuals. The business’s software encompasses an effective applicant tracking system and psychometric assessment functionality to enhance...
LEASEHOLD
The company designs and manufactures products and accessories complementary to the mobile data acquisition market. All of its products are sold via resellers in the UK, Europe and the US. The business’s product range is focused on asset management, e...
LEASEHOLD
26
|
May
|
Administrators to bring landmark Sheffield building to market | ADMINISTRATION
A landmark building in Sheffield is to be put up for sale af...
25
|
May
|
Circular economy group expands with UK takeover | BUSINESS SALE
Reconomy Group, a global circular economy firm, has acquired...
25
|
May
|
Assets of leisure firm to be sold amid FCA investigation | ADMINISTRATION
Administrators are seeking a buyer for the business and asse...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.