AdEPT Technology expects demand for services to rebound after pandemic

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  • Adept Technology’s strong end to year continues
  • AdEPT Technology Group report ‘resilient financial performance’ as momentum continues into 2021
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Quick facts: AdEPT Technology Group PLC

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AdEPT Technology Group plc is one of the UK’s leading independent providers of managed services for IT, unified communications, connectivity and voice solutions with a mission of Unifying Technology, Inspiring People.

The company’s tailored services are used by thousands of customers across the UK and are brought together through the strategic relationships with tier-1 suppliers such as Openreach, BT Wholesale, Virgin Media, Avaya, Microsoft, Dell and Apple.

07 Jul 2021

() said a strong end to the fourth quarter had continued into its current financial year.

Phil Race, chief executive, added: “The momentum gained by the Group in Q4 FY21 has continued into Q1 FY22 with sales and margins in the new financial year to date firmly in line with market expectations.”

Race added that its new integrated telecoms system, ONE AdEPT, is at the heart of its plans, and will give it a scalable platform for growth.

Revenue in the year to end march was GBP57.9mln (GBP61.7mln) while underlying profits dropped to GBP9.8mln from GBP11.7mln and after costs, non-cash items and interest, there was a loss of GBP505,000 (profit: GBP1.97mln).

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14 Apr 2021

() said it completed the acquisition of cloud networking and communications specialist Datrix for up to GBP16mln.

The deal is expected to be earnings enhancing in the first full year. Chief executive Phil Race called it a “game-changer”, which takes “us to the forefront of next-generation networking delivery”.

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07 Apr 2021

() said it expects to meet current market forecasts for revenue and EBITDA for the financial year to end March 2021.

The IT services company said it delivered a resilient performance in the fourth quarter, despite the ongoing challenges of the COVID-19 pandemic, and that sustained customer demand meant it did not need to use the UK’s furlough scheme during the quarter unlike in Q1 and Q2.

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07 Jul 2021

‘s () Phil Race and John Swaite discuss with Proactive London their final results for the full year which ended 31 March 2021.

Race highlights a strong end to the fourth quarter which has continued into its current financial year with the momentum gained, as well as sales and margins in the new financial year to date firmly in line with market expectations.

Swaite takes viewers through the numbers, with revenue of GBP57.9m at 94% of FY20 (2020: GBP61.7m).

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AdEPT Technology Group report ‘resilient financial performance’ as momentum…

AdEPT Technology Group PLC’s (LON:ADT) Phil Race and John Swaite discuss with Proactive London their final results for the full year which ended 31 March 2021.

Race highlights a strong end to the fourth quarter which has continued into its current financial year with the momentum gained, as…

14 hours, 15 minutes ago

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