Redcentric plc is a mid-market network-based managed services business delivering information and communications technology (ICT) solutions and services. The Company delivers services, such as designing, implementing, securing and maintaining ICT networks; hosting services, software and data in the cloud, and managing the ICT environment utilized in the delivery of the services, software and data. It offers a range of network-based managed services solutions, including Managed security services, Connectivity solutions, Unified communications solutions, Hosted applications/Cloud services, Physical and virtual data centre services, and ICT project and hardware maintenance services. The Company was formed to facilitate the demerger of the network-based managed services business from the Redstone Group. On April 8, 2013 Redcentric Holdings Limited, a wholly owned subsidiary was demerged from Redstone plc.

http://www.redcentricplc.com/

Redcentric PLC (RCN:LSE) set a new 52-week high during today's trading session when it reached 197.00. Over this period, the share price is up 59.35%.

Pre-close Trading Update and Board Change
RNS
RNS Number : 6047A
Redcentric PLC
30 September 2015

30 September 2015

Redcentric plc

("Redcentric" or the "Company")



Pre-close Trading Update and Board Change

Redcentric plc (AIM:RCN), a leading UK IT managed services provider, announces a pre-close trading update covering the six months to 30 September 2015. The Group expects to announce its interim results on 9 November 2015. The company also announces that Fraser Fisher, currently Chief Operating Officer, is to be appointed Chief Executive Officer of the Company in succession to Tony Weaver, who remains on the Board as a non-executive Director.

Trading highlights

· Trading in line with market expectations

· Continued strong organic growth in recurring revenues

· New business momentum maintained, with some notable £1m plus contract wins

· Calyx integration on plan, full contribution in second half

· Strong cash generation

The strong start to trading noted earlier in the year has continued through the first half, with some significant new contracts augmenting the high levels of recurring revenues, which are in excess of 80% of total revenues. During the first half several significant contracts were won, including five £1m plus contracts with both Government and commercial clients.

The integration of Calyx Managed Services, acquired in April 2015, has progressed to plan. The financial benefits of the acquisition will be felt in full in the second half of the year.

Cash generation remains strong, and the company has substantial headroom in its recently renewed banking facilities.

Board changes

Fraser Fisher, the Chief Operating Officer of the Company, will become the Chief Executive Officer of the Company on publication of the Company's interim results on 9 November 2015, in succession to Tony Weaver, who will remain on the Board as a non-executive Director of the Company.



Chris Cole, Chairman of Redcentric commented:

"Redcentric is trading strongly. The high level of recurring revenue, increasing traction in the £1m plus contract market and the successful integration of Calyx all combine to give the Board confidence in the company's prospects.

I will be delighted to welcome Fraser as our new CEO. Fraser has a wealth of operational experience and has already made a significant contribution to the business. I am pleased that Tony Weaver will remain on the Board as a non-executive director, providing business continuity as well as maintaining our important links with MXC Capital who have been supporting the development of Redcentric's successful position in the AIM technology sector".

Upgrade = 30 Sep Numis 220.00 Buy

MIDAS-SHARE-TIPS-Make-killing-Redcentric-firm-helps-power-net.

Half Yearly Report
RNS
RNS Number : 9045E
Redcentric PLC
09 November 2015

9 November 2015

Redcentric plc

("Redcentric", "the Company" or "the Group")



Unaudited Interim Results for the six months ending 30 September 2015

Redcentric plc (AIM:RCN), a leading UK IT managed services provider, today announces its unaudited interim results for the six months ended 30 September 2015.

Highlights

· Revenue up 15% to £54.0m (H1 FY15: £46.8m), representing 8% organic growth

o Recurring revenue up 18% (12% organic) to £43.9m

· Adjusted EBITDA* up 17% to £11.8m (H1 FY15: £10.1m)

o Adjusted EBITDA* margin of 21.8% (H1 FY15: 21.5%)

· Adjusted profit before tax** up 22% to £5.0m (H1 FY15: £4.1m)

· Calyx Managed Services acquired for £12.0m in April 2015, integration completed September 2015

· Adjusted EPS*** up 18% to 4.70p (H1 FY15: 4.00p). Statutory EPS 0.76p (H1 FY15: 2.28p)

· Interim dividend up 50% to 1.5p per share (H1 FY15: 1.0p)

· Net bank debt £16.5m (31 March 2015: £4.8m) post Calyx acquisition, expected to reduce steadily with ongoing cash generation

· The business continues to trade in line with the Board's expectations and the Board is confident of the full year outlook



Fraser Fisher, Chief Executive Officer of Redcentric commented:

"Redcentric has continued to perform well in the first half, with some very impressive contract wins, good sales momentum and the successful integration of Calyx. Our focus continues to be on growing our recurring revenue base by providing our customers with market leading services, allowing them to concentrate on their core business."



Chris Cole, Chairman of Redcentric commented:

"These first half results demonstrate the continued growth pattern seen in previous periods. The Calyx acquisition and subsequent integration have enabled us to expand our contract base, and demonstrates both the scalability of the platform and the ambition the board has to deliver increasing shareholder value over the coming years."



* Earnings before interest, tax, depreciation, amortisation of acquired intangibles, transaction and integration costs and share based payments.

** Adjusted profit before tax excludes transaction and integration costs. Statutory profit before tax was £1.4m (H1 FY15: £3.9m).

*** Adjusted Earnings per Share excludes amortisation of acquired intangibles, transaction and integration costs and share based payments and replaces the reported tax credit with a notional tax charge at the full rate of corporation tax.





An analyst presentation will be held at 9.30am on Monday 9th November 2015 at Tulchan Communications, 2nd Floor, 85 Fleet Street, EC4Y 1AE, London.

9 Nov Numis 220.00 Buy
9 Nov finnCap 245.00 Corporate
3 Nov finnCap 205.00 Corporate

Acquisition of City Lifeline
RNS
RNS Number : 3713N
Redcentric PLC
29 January 2016

29 January 2016

Redcentric plc

("Redcentric" or the "Company")



Acquisition of City Lifeline



Redcentric plc (AIM:RCN), a leading UK IT managed services provider, is pleased to announce the acquisition of City Lifeline Limited ("City Lifeline") for a total consideration of £4.8 million, paid in cash on completion and subject to adjustment for cash, debt and normal working capital.



City Lifeline owns and operates one of the best connected datacentres in London, and has been trading for over 20 years. Its site in Tech City provides a secure, reliable location from which its customers operate business critical infrastructure. In the year to 31 December 2015 City Lifeline generated revenue of £3.5 million, all recurring, and EBITDA of £0.6 million.



The acquisition of City Lifeline represents another step in Redcentric's growth strategy, providing a well-established London datacentre to complement its existing infrastructure of owned datacentres in Harrogate, Reading and Cambridge together with its national fibre network.



As well as continuing to support City Lifeline's existing customers, the London datacentre will provide Redcentric with significant expansion capacity. The acquisition is expected to be immediately earnings enhancing.



Fraser Fisher, Chief Executive Officer of Redcentric, commented;

"City Lifeline is a great addition to our network of datacentres, something we've been seeking in London for a while. This is a low risk move, earnings enhancing from day one and is a further step in the Redcentric growth strategy".

29 Jan Numis 220.00 Buy
29 Jan finnCap 245.00 Corporate

Pre-close Trading Update

RNS


RNS Number : 6047T

Redcentric PLC

31 March 2016




31 March 2016

Redcentric plc

("Redcentric" or the "Company")



Pre-close Trading Update



Redcentric plc (AIM:RCN), a leading UK IT managed services provider, is today issuing a pre-close trading update for the second half of the financial year to 31 March 2016.



The positive momentum reported at the interim results has continued through the second half of the year. Contracted revenues continue to grow, driven both through new client wins and with existing clients taking more services and products.



EBITDA margins have improved as we continue to improve the revenue mix to higher margin services. Overall, revenue and EBITDA are both expected to be in line with expectations.



City Lifeline Ltd, which was acquired for £4.8m on 29 January 2016, is performing in line with plan, and its integration into the wider Redcentric business is progressing well.



During the second half, the business has increased its success-based capital expenditure given the high levels of new customer activity. Following this expenditure and an increase in year-end debtors, principally reflecting the timing of some collections, the Company's balance sheet remains strong, with a net debt to adjusted EBITDA ratio of below 1.0x.



There is good sales momentum, with a strong pipeline of future opportunities. Overall, the Board are confident in the outlook of the business.



Redcentric is expecting to report results for the year to 31 March 2016 on 16 June 2016.



Fraser Fisher, Chief Executive Officer of Redcentric, commented;

"We're pleased with our performance in the second half of the year. The strength of our business model, with its high proportion of recurring revenue, provides stability from which we can plan our growth. We remain confident in the strength of the business to continue to successfully execute its growth strategy".

Disposal of fibre networks
RNS
RNS Number : 7410K
Redcentric PLC
26 September 2016
 
26 September 2016
Redcentric plc
("Redcentric", "the Company" or "the Group")
 
Disposal of Cambridge, Portsmouth and Southampton fibre networks
 
Redcentric plc (AIM:RCN), a leading UK IT managed services provider, is pleased to announce the disposal of its metropolitan area fibre networks in Cambridge, Portsmouth and Southampton to CityFibre Infrastructure Holdings Plc (AIM:CITY, "CityFibre") for a total consideration of £5.0m, in line with book value, paid in cash on completion.
As part of the transaction, CityFibre have also acquired unlit network and ducting from Redcentric in Nottingham, Derby, Northampton and Newbury. Redcentric have signed a network access agreement with CityFibre to provide seamless access to the network in support of its customers, who remain with Redcentric and are unaffected by the disposal.
The network access agreement, which has a ten year duration, with minimum levels of annual commitment, which reduce over time. The expected impact on Redcentric is incremental net cash costs of approximately £0.5m per annum initially, although this is offset by reduced depreciation and interest charges meaning that the transaction is earnings neutral. The transaction strengthens Redcentric's balance sheet, and provides further flexibility for future investment.
 
Fraser Fisher, Chief Executive Officer of Redcentric, commented;
"This disposal is in line with our strategy of control over our customer affecting core assets while not tying up capital where ownership is unnecessary. This mirrors our Datacentre approach where the physical buildings are held on long leases rather than freeholds but we retain complete control of the assets. We will continue to service customers in Cambridge and Portsmouth exactly as before, and expect to generate additional revenues and network efficiencies over time as a result of our developing relationship with CityFibre."

Oh dear

from yesterday

XXXX - 7 Nov '16 - 15:43
I bought some a bit earlier @ 61.45p as the order book got very strong on the bid side

order book DEPTH ( no. trades ) of 43 v 26

The marked down seem overdone considering £10M is on the fry and now bounces from lows of the day

74.25p +11.00 (+17.39%)

RNS from MXCP

"MXC Capital Limited (AIM: MXCP), the technology focused merchant bank, announces that on 7 November 2016, it bought 7,610,208 shares in Redcentric plc at an average price of 59.68 pence per share. Together with MXC's existing shareholding, MXC now holds 7,659,316 Redcentric shares, representing 5.2% of its issued share capital. "

Peter Rigg, Chairman of MXC Capital, commented:
"We are shocked by the recent developments at Redcentric; accounting misrepresentations are every investor's worst nightmare. Despite this set back, we strongly believe in the fundamental quality of Redcentric's business and remain confident of its future prospects.

With swift action, we believe that value can be restored in Redcentric and MXC will seek to take an active role in this process."

note -
MXCP sold all their holdings in June at about 180p per share netting them £10.6m

Still strong buy imhho. Totally oversold after statement giving clarity, and dealt with immediately. No skeletons in the cupboards with this board of directors.

Red Faces at Redcentric

Insider Share Dealing

Besides the fact of the accounting misstatement, resulting in Redcentric’s CFO being placed on “garden leave”, the pattern of share trades by insiders before and after the announcement is, if anything, more shocking. Firstly, we have share trades by Redcentric’s CEO........

http://www.sharesoc.org/blog.html

Steady bounce during the last week another 4p today

84p + 3p

Appointments to support forensic review

Redcentric plc (AIM:RCN), a leading UK IT managed services provider, announces the following initial actions by the Board following the recent discovery of accounting misstatements.

To support the Board with its forensic review, both Deloitte LLP and Nabarro LLP have been appointed to carry out independent forensic investigations.

Alongside these appointments, Redcentric has also appointed Julian Llewellyn as interim Chief Financial Officer. Julian is a very experienced Chief Financial Officer with over 25 years' experience in senior roles at companies such as Exertis, Balfour Beatty and Greenergy.

The search for a permanent Chief Financial Officer to join the Board is progressing well and the Company will make a subsequent announcement in due course.

Chris Cole, Chairman of Redcentric, commented:

"The past few days have obviously been challenging and difficult for everyone involved with Redcentric. Our priority now is to complete this review and report the findings to all our stakeholders together with our interim results."

KEEPS MOVING HIGHER

87.50p +6.50p

Close Position T+13 @ 86p

I don't understand the comment that MXCP; "...sold all their holdings in June at 180p netting them £10.6m...." ( see Posting #41 ).
Was [RCN], ever 180p in 2017 - ? - the graph suggests 80p might have been possible... and it's not far off that now.