SysGroup EBITDA in line with expectations on growing revenues

IT services and cloud hosting provider SysGroup told investors on Wednesday that both full-year revenue and adjusted EBITDA would be in line with management's expectations.

SysGroup saw revenues and earnings grow roughly 22% and 40% year-on-year, respectively, and said its results will underpin the group's strategy of focusing on the provision of end-to-end managed IT services, with recurring revenue now representing around 74% of its total revenues.

The AIM-listed outfit, which acquired Certus IT towards the end of the period, revealed that trading at its recently acquired property was in line with expectations, with integration now underway.

Chief executive Adam Binks said: "It has been an exciting first year at the helm of SysGroup, and I am pleased with the progress that we have made on our journey to become the leading provider of managed IT services and cloud hosting.

"We will continue to invest in the group and in our people throughout the course of FY20 and I am confident that we will see shareholder returns as a result."

SysGroup will post its full-year results on 26 June.

As of 1020 BST, SysGroup shares had climbed 3.01% to 40.18p.