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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Nike Inc. (NKE), the world's largest athletic shoes and apparel maker, Tuesday reported a first-quarter profit that increased from a year ago and trumped Wall Street estimates, driven largely by more-than-expected revenues and strong margins. Beaverton, Oregon-based Nike's first-quarter profit rose... German auto giant BMW (BMW.L, BAMXF.PK, BAMXY.PK) Tuesday lowered its earnings and revenue guidance for the full year 2018, hurt largely by emissions-related costs, product recalls and ongoing global trade war. Automotive segment revenues are now expected to be slightly lower than the previous year.... Walt Disney World is introducing a new ticket pricing system in order to better distribute attendance at its theme parks throughout the year. The company plans to begin pricing tickets for its theme parks based on dates so as to reflect the expected demand on specific days. Disney said Monday that beginning October 16, guests will be able to access its new online vacation-booking portal.
Follow RTT