AdEPT Technology seeing demand for services rebound after pandemic

AdEPT Technology Group PLC is one of the UK’s leading independent providers of managed services for IT, unified communications, connectivity, and voice solutions.

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, Vodafone, Virgin Media, Avaya, Microsoft, Dell, and Apple.

AdEPT Technology Group PLC (AIM:ADT) is on track to achieve management expectations in the current fiscal year after a strong first-half performance.

The provider of managed services for information technology, unified communications, connectivity, voice and cloud services, saw group revenue increase by 20% to GBP34.3mln in the six months to the end of September from GBP28.5mln in the corresponding period of 2019; this was despite the deferral of GBP0.9mln of revenue into the second half of the current year as a result of global supply chain issues and customer resource allocation.

The group’s Cloud-Centric Strategic Services division was an outstanding performer, achieving 19% revenue growth – 6% on a like-for-like (LFL) basis to GBP14.6mln.

Managed services rose by 4% on an LFL basis and now form 87% of revenue, up from 82% in the same period of 2020, as the group continues to shift the focus away from Telephony, which was once the core of the business.

AdEPT Technology Group PLC (LSE:ADT) said it has traded in line with its expectations in the first four months of its financial year.

As well as adopting a new environmental, social and governance (ESG) framework based on the UN Global Compact initiative, the IT services group said management’s priority for the next six months will be to pay down debt and then will review the dividend policy at the end of the year ending 31 March 2022.

AdEPT Technology Group PLC (LSE:ADT) said the recently acquired cloud networking and communications specialist Datrix is integrating well and achieving early key goals, including customer renewals and new business.

AdEPT bought Datrix for up to GBP16mln in April this year in a move described as a “game changer” by AdEPT’s chief executive Phil Race.

AdEPT Technology Group PLC (AIM:ADT) CEO Phil Race and finance director John Swaite joined Proactive’s Stephen Gunnion with details of the company’s first-half performance, including a 20% increase in revenue, a 16% rise in underlying earnings (EBITDA) and a 30% jump in adjusted earnings per share.

AdEPT telling Proactive that its Datrix acquisition performed ahead of management expectations while AdEPT Nebula grew revenue by 26% with 635 customers now using the group’s cloud platform.