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SysGroup profit falls on lower sales
StockMarketWire.com
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IT services provider SysGroup posted a fall in first-half profit after revenue slipped amid the pandemic.
Pre-tax profit for the six months through September decreased to £0.13 million, down from £0.37m million year-on-year, while revenue fell 2.7% to £9.01 million.
Adjusted earnings before interest, tax, depreciation and amortisation rose 19% to £1.41 million.
'I am pleased to be able to report on a period that has demonstrated the stability, agility and relevance of our business during a global crisis which has resulted in considerable uncertainty for many businesses,' chief executive Adam Binks said.
'Whilst COVID-19 has had a marked impact on many sectors, it has created a huge opportunity for the IT services sector.'
'The value of robust, flexible and secure IT has never been so important to businesses; outsourced managed services has been recognised as a key component of many businesses' success, growth and continuity.'
'We look forward to capitalising on that trend in the years to come.'
Story provided by StockMarketWire.com
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