logo
Plus   Neg
Share
Email
Comment

Redcentric Names Chris Jagusz CEO, Says H1 Trading In Line With View; Stock Up

Shares of Redcentric plc (RCN.L) were gaining around 3 percent in the morning trading in London after the UK IT managed services provider announced Thursday the appointment of Chris Jagusz as Chief Executive Officer. The company also said its trading for the six months to September 30 has been in line with management expectations.

Jagusz succeeds Fraser Fisher, who in early August gave notice of his resignation as Chief Executive Officer to pursue other business interests.

The new CEO, Jagusz, will commence on October 16. He has over twenty-five years of experience in the telecoms and managed services industry, during which time he has built a track record of delivering growth and business transformation.

From September 2014 to August 2016, Jagusz was Chief Executive of Azzurri Communications. Prior to this role, from July 2012 to September 2014, he was Managing Director of SSE Telecoms.

Regarding its first-half trading, the company noted that it has continued to focus on delivering reliable services for its clients while improving the operations of the business. In particular, good progress has been made with reducing the net debt position to 33.3 million pounds, which is ahead of management's expectations. This is due to strong operating cash flows reflecting improved trade debtor collections and working capital management.

The company will report its interim results on November 29.

In London, Redcentric shares were trading at 81.25 pence, up 2.85 percent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
BlackRock Inc., the world's largest asset manager, said it plans to speak with gun makers and distributors following public outcry after the Florida high school shooting that killed 17 people. BlackRock, which had $6.3 trillion in assets under management as of December 31, 2017, holds shares in gun makers Sturm Ruger & Co. Inc. as well as American Outdoor Brands Corp. An upgraded boarding in Southwest Airline will cost you more. The airline usually not assign seats to passengers, but one can choose from an open seat. The Upgraded Boarding will allow passengers to choose from A1 - A15 boarding positions. The cost for these positions would be $30, $40 and $50, depending on flight and route. This option can be availed from the ticket counter or gate. Citigroup Inc.'s co-head of mergers and acquisitions, Peter Tague, is leaving the company, according to media reports, citing people familiar with the matter. Tague has been co-head of Global M&A business at Citigroup since March 2012, alongside Cary Kochman and Mark Shafir. It was not immediately clear what Tague intends to do after he leaves Citigroup.
comments powered by Disqus
Follow RTT