SysGroup adjusted profit rises on higher sales

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IT services company SysGroup posted a full-year loss, though its underlying earnings were boosted by higher sales.

Pre-tax losses for the year through March amounted to £0.83m, compared to losses of £0.01m on-year.

Revenue rose 22% to £12.77m, while adjusted profit, which stripped out one-offs like acquisition costs, rose 39% to £0.75m.

'I am delighted to announce another solid year for the group, in which we delivered double digit growth in revenue and adjusted profit as well as achieving a number of strategic milestones,' chief executive Adam Binks said.

'Our scale, customer base and geographical coverage have grown considerably and, importantly, so too has the quality of our revenue streams.'

'We are beginning to see the benefits of our investment in sales and marketing and are well positioned to meet the complex requirements of our customers and prospects.'

'The post period acquisition of Hub Network Services announced earlier this week also further underpins our capabilities in being able to source and deliver complementary acquisitions which is pivotal to the successful delivery of our stated strategy.'

'The momentum achieved in the year has carried over into the start of the new financial year, and with the growth expected to continue, I remain optimistic for the future.'