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Redcentric board ends formal sale process amid revenue, earnings increase
StockMarketWire.com
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The board of IT services company Redcentric has terminated its sale process for the company after no offers materialised.
The company began exploring opportunities for a sale in September, but announced today that despite constructive discussions with 'a significant number of interested parties', no fully funded offers came about.
In its half year results for the six months to the end of September, also announced today, Redcentric reported a 7% increase in revenue and a 19% increase in adjusted earnings before interest, taxes, depreciation, and amortisation.
The board said it was focused on building on the 'existing strong momentum within the business' and would continue to evaluate potential options for 'organic growth and/or potential acquisitions'.
At 9:49am: (LON:RCN) Redcentric PLC share price was -4p at 124p
Story provided by StockMarketWire.com
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