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Redcentric flags solid first-half trading
(Sharecast News) - Redcentric reported solid first-half trading in line with expectations on Wednesday, as the UK IT managed services provider focused on higher-margin business and cost discipline ahead of completing the sale of its data centre division. For the six months ended 30 September, revenue from the continuing managed services provider business totalled around £67m, compared with £69m a year earlier.
Adjusted EBITDA rose slightly to £9.1m from £8.9m, modestly above management expectations, reflecting tighter expense control and a shift toward more profitable contracts.
The company said the performance underscored its market-leading position in UK managed IT services and its focus on expanding recurring margins while maintaining disciplined cost management.
It said chief executive Michelle Senecal de Fonseca would provide a strategic update when the firm reports its interim results on 10 December.
Redcentric added that the sale of its data centre business, announced in October, was progressing as planned and remained on track for completion in the first quarter of 2026, subject to regulatory approvals and final separation arrangements.
The financial results excluded the contribution from the data centre operations, which continue to be classified as a discontinued business under IFRS.
At 1402 GMT, shares in Redcentric were up 2.26% at 122.71p.
Reporting by Josh White for Sharecast.com.
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