Redcentric plc (RCN.L), a UK-based managed services provider, Thursday reported that its fiscal 2024 adjusted EBITDA climbed 16 percent to 28.4 million pounds from last year's 24.5 million pounds.
Revenue was 163.1 million pounds, down 15.1 percent from prior year's 141.7 million pounds.
Recurring Revenue for the year climbed 16 percent from last year to 149.1 million pounds.
The compan y said these results mainly reflect the benefits of the first full year of trading contribution from the 4D Data Centres and two Sungard asset acquisitions made in FY23.
Peter Brotherton, Chief Executive Officer, said, "FY24 was a very productive year with all the original integration programmes completed, generating cost savings either in line or slightly ahead of our expectations. .. Looking forwards, our key tasks for FY25 will be to continue to drive organic growth and focus on delivering productivity gains to drive improved margin and cashflow performance."
The company said the focus for fiscal 2025 will be to continue driving organic recurring revenue growth of at least 5% and leveraging operational gearing to deliver improved profit margins.
In London, Redcentric shares were trading at 133 pence, down 7 percent.
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