Revenues jump at managed services and cloud integrator Sysgroup

Total revenues have jumped by two-thirds at Liverpool-based managed services and cloud integrator SysGroup, with chief executive Chris Evans hailing the company’s performance during “a year of both significant progress and change for the group”.

SysGroup has posted total revenues including discontinued operations of £7.9 million for year ending 31 March 2017, which represents a year-on-year rise of 65 per cent. Revenues from continuing operations grew by 186 per cent to £7.2 million in the same period.

Adjusted pre-tax profits climbed by 45 per cent to £500,000.

During the year, SysGroup agreed to sell its SME mass market business for £2.7 million, and also acquired managed IT services company Systems Professional for an initial consideration of £4 million, and relocated its finance function to Liverpool.

Evans said: “We have achieved our objectives of fundamentally transforming the business to focus on high-growth managed services whilst delivering enhanced profitability and results in line with market expectations, while at the same time integrating a large acquisition.

Our sales pipeline has grown by 28.8 per cent from 30 September 2016 to £3.49 million at 31 March 2017, showing the tangible impact of our growth strategy.

“Given our healthy levels of recurring revenue and long-term contracts with key customers, coupled with our cash generation, we are well-placed to capture market opportunity and I remain confident in the group’s future prospects,” Evans concluded.