logo
Share SHARE
FONT-SIZE Plus   Neg

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
10 Worst Places To Raise A Family Whether you are a young couple building a nest or seasoned parents looking for a change of scenery, there are number of places around the country that should be avoided, according to personal finance website WalletHub. They looked at mainly five categories for... A passenger has filed a lawsuit against Canadian budget airline Sunwing Airlines for serving him cheap sparkling wine instead of champagne on board a flight, according to media reports. The Canadian passenger, Daniel MacDuff, reportedly boarded his Sunwing flight to Cuba in February, on a flight package that advertised a complimentary on-board champagne toast. Senate Health Committee Chairman Lamar Alexander, R-Tenn., and ranking member Patty Murray, D-Wash., announced Thursday that twenty-two other Senators are cosponsoring their bipartisan plan to provide short-term stability to Obamacare. The bipartisan bill includes a two-year extension of the cost-sharing...
comments powered by Disqus
Follow RTT