Liverpool tech firm sees revenues grow by 46% in last 12 months
Liverpool IT firm SysGroup says is revenues increased by 46% over the last 12 months.
The firm which offers managed IT services and cloud hosting announced revenues reached £10.5m last year.
The firm has seen organic revenue growth of 21% following a list of successes for the group over the last 12 months.
These include the acquisition and integration of Rockford IT, a three year £1m contract win with Home Bargains, full integration of the System Professional business and significant investment in sales and marketing functions.
Adjusted profit before tax showed a 104.2% improvement, from £240,000 last year to £490,000 this time around.
The group’s loss before tax also improved, from £1.35m a year ago, to just £7,000 this year.
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.
Adam Binks was appointed as chief executive in April 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 chief finance officer effective from next month.
Adam Binks
As a chartered accountant joining from NCC Group he will bring senior operational finance and transaction experience to the board.
Adam Binks said: “For the first time as chief executive, 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.
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.
