acquisitions drive robust trading performance at tech firm

a liverpool-based tech agency has reported a robust trading performance driven by a success acquisitions, in spite of a “tough macro-financial environment”.

sysgroup expects to report revenue for h1 fy23 of £11.32m, a rise from £7.58m in the equal period final year. adjusted ebitda is expected to be £1.67m in comparison to £1.34m the previous length.

each are in keeping with contemporary marketplace expectancies, the institution said in a london inventory exchange trading update for the six-month period ended 30 september 2022.

the company, that is a managed it services, cyber security and cloud hosting issuer, stated the successful acquisitions of truststream and orchard from earlier this yr and said the mixing of both are “progressing nicely”.

it added that the board is thrilled with the overall performance of the pair to date and is already seeing early signs of the potential blessings of the move-promote possibilities.

the business stated it has maintained its buying and selling momentum with its sales pipeline continuing to grow and the investment made in fy22 into its new manchester income and advertising and marketing hub beginning to materialise.

it delivered that the board is “absolutely committed” to sysgroup’s business version and “remains confident” that the group will meet marketplace expectancies for the entire economic year.

adam binks, chief executive, stated: “i’m pleased with the progress that we’ve got made in h1 fy23. to have brought a revenue and altered ebitda overall performance in line with contemporary market expectations, no matter the numerous macro-financial challenges, is testament to the resilience of our method and tough work of our team.

“the advantages of the latest truststream and orchard acquisitions are already clear and the enlarged consumer base is fully engaged in knowledge what extra aid we will provide from our more desirable service presenting.”

searching in advance, he brought: “i continue to be grateful for the ongoing dedication of our groups, who hold to power the organization ahead and help our clients at an an increasing number of crucial time.”

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