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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Redcentric Plc | RCN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 3.50 | 2.48% | 144.50 | 16:35:13 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 142.00 | 142.00 | 142.00 | 144.50 | 141.00 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 22/11/2023 | Interim | GBP | 0.012 | 07/03/2024 | 08/03/2024 | 18/04/2024 |
| 24/08/2023 | Final | GBP | 0.024 | 07/12/2023 | 08/12/2023 | 19/01/2024 |
| 08/12/2022 | Interim | GBP | 0.012 | 15/12/2022 | 16/12/2022 | 27/01/2023 |
| 21/07/2022 | Final | GBP | 0.024 | 28/07/2022 | 29/07/2022 | 16/09/2022 |
| 18/11/2021 | Interim | GBP | 0.012 | 25/11/2021 | 26/11/2021 | 06/01/2022 |
| 15/07/2021 | Final | GBP | 0.024 | 05/08/2021 | 06/08/2021 | 17/09/2021 |
| 12/11/2020 | Interim | GBP | 0.012 | 19/11/2020 | 20/11/2020 | 31/12/2020 |
| 28/11/2019 | Interim | GBP | 0.0083 | 05/12/2019 | 06/12/2019 | 10/01/2020 |
| 25/06/2019 | Final | GBP | 0.01 | 12/09/2019 | 13/09/2019 | 04/10/2019 |
| Top Posts |
|---|
Posted at 05/4/2024 11:00 by boadicea Given bouyant demand in the datacentre field, moderation in energy costs, efficiency savings, an eagerness to expand and a strategic holding by Kestral opps fund, one really would expect more interest here. Additionally, falling inflation leads to an expectation of reduced financing costs within the time-frame of FY25.We can probably expect an update on basic progress for FY 2024 sometime later this month which should confirm whether or not we remain on track as forecast in the outlook given in the last interim report - "The Board expects to commence FY25 at least in line with its prior expectations. With the integration of the recent acquisitions complete, FY25 will see the return of healthy EBITDA margins approaching 25% and excellent cash generation, both of which are driven by high levels of recurring revenues underpinned by long term customer contracts.". This prospect is hardly recognised in the current valuation. Is RCN one of the many smaller companies being unfairly held back by a moribund UK market? |
Posted at 31/5/2023 07:30 by masurenguy Rising costs putting pressure on Redcentric, says DowningIT services group Redcentric (RCN) may have reported a jump in revenues, but Downing’s Josh McCathie warns it is still grappling with rising costs. McCathie holds the stock in his VT Downing Small & Mid Cap Income fund, where it makes up 3% of the £43m strategy. "Redcentric, a managed IT services business, released its results for the year ended 31 March 2023 and reported revenues up 52% to £141.8m and adjusted Ebitda up 4.6% to £24.8m. The results reflect the contribution from five acquisitions completed over the last two financial years." the manager said. However, he flagged a warning from the group and said "it continues to experience widespread inflationary increases across its cost base, primarily wage inflation, electricity costs and software licence costs." |
Posted at 12/7/2022 07:45 by masurenguy Redcentric PLC Acquisition of Sungard data centres and 4DRationale for the acquisitions In the last annual report, we outlined our strategy to grow the Redcentric business by adding both capability and scale through M&A. Following the acquisitions of Piksel Industry Solutions Limited, 7 Elements Limited and Sungard's consulting business, the acquisitions of 4D and Sungard DCs also bring additional scale to the Company. Sungard's DC business is renowned for its highly resilient data centre estate and its assured IT recovery services. The business hosts and manages the mission critical infrastructure for a strong blue-chip enterprise customer base that provides an excellent addition to the Company's existing client base. The recovery services offered by Sungard DCs represent additional capability within Redcentric's customer offering and will therefore give Redcentric exposure to new areas of the market. 4D is a successful hosting business operating out of 2 data centres within the UK, with a focus on colocation services. Redcentric's product and solutions portfolio is much wider than both Sungard's and 4D's offerings, meaning these acquisitions will provide significant cross-sell opportunities into these newly acquired customer bases. Peter Brotherton, CEO of Redcentric commented:"With these 2 acquisitions, we have now completed 5 acquisitions in the last 9 months and totally transformed the Company. We have added over 600 customers to our base and increased run rate revenues by circa 60%. The acquisition of Piksel has broadened our product offerings by adding full hyper-scale capability; the 7 Elements and Sungard consultancy acquisitions have significantly strengthened our security product portfolio; and the Sungard DCs acquisition has added new recovery-based services. We believe that we now have the most comprehensive IT and Telecommunications product and solutions offering in the market. During the next 6 to 9 months our focus will switch to fully integrating the acquired businesses and exploiting the meaningful cross-sell opportunities that these acquisitions bring. We look forward to making the most of the very significant opportunities that come with these acquisitions and to an exciting future" |
Posted at 09/6/2022 07:14 by masurenguy Nick Bate, who was appointed NX Chairman 7 months ago, has made an initial investment of £49,500 in RCN shares after purchasing 40,000 @1.2375p. |
Posted at 12/2/2022 15:59 by masurenguy Thanks netcurtains. Interesting to see RCN at the lower end and Beeks, another core holding of mine, right at the top. However, I'm on a free run with BKS having sold 35% of my holding there last year to recover my complete investment. |
Posted at 02/2/2022 14:16 by bagpuss lives So RCN are effectively managing out Richard Griffiths departure. The extension will allow them to soak up the remaining shares to be disposed off and that should allow the process to speed up hopefully rather than be a long drawn out drag on the share price.Just a case of counting sells and buy backs to work out when handbrake might get let off. Bagpuss |
Posted at 30/12/2021 08:06 by masurenguy RCN also made a buyback of 100,000 shares @122p to hold in Treasury late yesterday. |
Posted at 27/10/2021 07:58 by masurenguy Solid progress !Trading Update Redcentric announces a pre-close trading update for the six months ended 30 September 2021. Financial Highlights We are pleased to announce that trading for the six months ended 30 September 2021 is expected to be in line with the Board's expectations, with revenues of GBP46.4m (H1 FY21: GBP46.2m) and adjusted EBITDA of GBP12.0m (H1 FY21: GBP12.3m). The Company had minimal net debt of GBP0.4m at 30 September 2021 (31 March 2021: net cash of GBP1.0m), excluding supplier loans and leases previously classified as operating leases under IAS17. This strong position reflects a final dividend payment of GBP3.7m, the disposal of the non-core EDF contract for GBP5.8m and the acquisition of Piksel Industry Solutions Ltd ("Piksel IS") for GBP9.5m. Operational Highlights The integration of Piksel IS is progressing well, and we are on target to have the business fully integrated by the end of the current financial year. Good progress has been made in realising synergies and we are confident of achieving cost savings of at least GBP1.1m. The acquisition has been well received by both companies' customer bases and we are already in active discussions regarding several cross-sell opportunities. Outlook We expect trading for the year ending 31 March 2022 to be in line with the Board's expectations, including strong cash generation consistent with previous guidance. This is despite a continued lack of largescale IT projects and supply chain issues remaining a feature of the sector. In addition, several of our electricity supply contracts fell due for renewal during the ongoing UK energy crisis and this will add GBP0.5m of costs to H2 FY22 and at least GBP0.5m of costs to H1 FY23. We continue to make progress on M&A prospecting, with several active conversations underway, a growing pipeline of potential targets and a strong balance sheet. Notice of Interim results The Company intends to announce results for the 6 months ended 30 September on 18 November. |
Posted at 15/7/2021 11:34 by simon gordon What's interesting is that I don't think have RCN mentioned customer delays until today.Here's the Trading Update in April: "We have returned to growth, operational efficiency programmes have been delivered, the ERP system has been successfully implemented and profits are healthy." Both Maintel and Adept have talked of customer delays in their historic announcements. RCN were indicating that they were immune to this and thus the share run up into the 140s. This is from the Interims in November: "With the FCA Investigation now concluded, this barrier has been removed and we will deploy additional sales resource in the second half of the financial year ending 31 March 2021 ("FY21") to attract new private sector logo business. Sales timelines are typically six months, with installations taking three months, so our renewed efforts in this area are unlikely to materialise in to increased revenue until the financial year ending 31 March 2022 ("FY22")." Fincap forecast: FY 2022 = 90.4m turnover down from 91.4m in 2021, mitigating is the sale of the small unit which did 1m. Still no sales growth in 2022 if H2 picks up. Fincap forecast in April was 94m in 2022 I'm disappointed because the talk has not been matched by the walk. |
Posted at 15/7/2021 07:24 by masurenguy Final Results for YE March 2021Highly resilient results which are in line with the market expectations in place pre the outbreak of the COVID-19 pandemic and with no benefit from any government support packages including no staff furloughed and no cash flow reliefs taken as at the year end. -- Headline revenue growth of 4.5% to £91.4m. -- Organic recurring revenue grew to 5.5% to £81.9m, with recurring revenue representing 90% of total revenue (FY20: £77.6m / 89%). -- Adjusted EBITDA of £24.6m which is £4.0m (19%) ahead of FY20 reflecting the increased revenue and substantial direct and operating cost savings primarily derived from the network and data centre rationalisation programme. -- During the financial year, the Company repaid in full its revolving credit facility. Net debt reduced by £19.0m to £15.6m as at 31 March 2021 (FY20: £34.5m), primarily reflecting adjusted cash flow from operations of £26.5m, net capex of £4.1m, interest and tax of £1.6m, dividend payments of £1.9m and net restitution payments and fees of £1.6m. -- As at 31 March 2021 the Company had a year-end cash balance of £5.3m. -- Adjusted basic EPS of 7.23p (FY20: 4.76p) and statutory basic EPS of 6.01p (FY20: -7.14p). -- During the year, an interim dividend of 1.2p (£1.9m) was paid and a final dividend of 2.4p (£3.7m) is being recommended to shareholders. It is the intention of the board of directors of the Company to continue with a progressive dividend policy (50% of adjusted earnings) in FY22 and beyond. Peter Brotherton CEO commented:"We have had an extremely productive year with many historical issues addressed and with a very robust financial performance in line with expectations set before the pandemic. We are now an efficient and fully integrated business delivering sector leading financial metrics including high recurring revenue, strong EBITDA margins and excellent cash generation. Notwithstanding such a resilient set of results, it is impossible to avoid the impact of the ongoing Covid uncertainty. Throughout the Covid-19 pandemic we have experienced customer delays regarding decisions on large-scale IT projects. These delays have persisted into FY22 and consequently we expect revenues and EBITDA in H1 FY22 to be broadly flat with modest growth returning in the second half of FY22 once the country returns to a more normalised position. We remain confident about our medium-term outlook, with an encouraging pipeline of potential new business which continues to gather momentum. With such a strong balance sheet we are ideally placed to supplement our organic growth strategy with targeted acquisitions for both scale and capability. The next phase of our journey is to capitalise on our scale, financial strength and customer proposition to enable us to take part in the inevitable industry consolidation." |
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