Member Article

SysGroup revenue up 46% to £10.5 million

SysGroup PLC (‘SysGroup’), one of the UK’s fastest-growing managed IT services and cloud hosting providers, has today announced revenue is up 46 per cent to £10.5m for the year ending 31st March 2018.

The results, which demonstrate organic revenue growth of 21 per cent, follow a long list of successes for the group over the last 12 months. These include the acquisition and integration of Rockford IT Ltd, a three year £1m contract win with Home Bargains (T.J. Morris Limited), full integration of the System Professional Ltd business and significant investment in sales and marketing functions.

Having recently unveiled a corporate re-brand to unify the four brands it has acquired over the last three years, SysGroup has increased its headcount by 168 per cent in the last two years with plans in place to grow the team further across its Liverpool, London and Telford sites.

To execute on SysGroup’s newly stated growth strategy, Adam Binks was appointed as CEO in April of this year, while Mike Fletcher and Mark Quatermaine were appointed as non-executive directors. SysGroup has further announced that Martin Audcent will be appointed to the role of CFO effective from 16th July 2018. As a chartered accountant joining from NCC Group Plc, Martin brings significant senior operational finance and transaction experience to the board.

Discussing the results, Adam Binks commented:

“For the first time as CEO, I am delighted to share what has been a transformational year for SysGroup. Through excellent traction gained in the second half of the year, we have delivered on market expectations whilst continuing to grow the team, service offering and customer base.” “Our sales pipeline continues to grow, and I am confident we are now well placed to take advantage of the strong market dynamics as the demand for managed IT services and cloud hosting continues to grow.”

“Looking forward, we remain committed to investment in order to accelerate our organic growth strategy whilst continuing to assess complementary strategic acquisition opportunities. I am confident we can continue to build on the strong momentum we’ve developed through 2018 and beyond.”

SysGroup delivers a wide range of managed IT services, cloud hosting, IT security and consultancy services under one core brand, which is aligned to the transformation and strategic growth it has experienced in recent years. The company works with a total of 950 customers across a number of regions and sectors, including financial services, insurance, retail, technology, not-for-profit, education and healthcare.

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