AIM-listed AdEPT has enjoyed a buoyant H122 in spite of challenges caused by the ongoing pandemic and disrupted supply chains.

The MSP reported a 20 percent year-on-year revenue increase to £34.3m for the six-month period ending 30 September 2021, despite a deferral of around £900,000 into H2 FY22as a result of the global supply chain crisis and customer resource allocation.

Its Cloud Centric Strategic Services turnover was up 19 percent to £14.6m , while Managed Service revenue climbed four percent, now making up 87 percent of group revenue and reflecting its move away from traditional telephony.

The performance of Datrix – acquired by AdEPT earlier this year – has exceeded expectations and it is now operating fully on the One AdEPT platform. The acquired firm has achieved anticipated cost synergies, secured a cross-sell project, and won a significant contract with Public Health England.

“I am delighted with the Group’s strong performance in the period, as activity continued to normalise in our sector, albeit somewhat tempered by the aftershocks of Covid-19,” stated Ian Fishwick, Chairman of AdEPT Group.

“We continued to deliver successfully on our strategic objectives, completing the strategic acquisition of Datrix, which strengthened our core competencies in cloud services and next generation technologies. One AdEPT, which lies at the heart of the group’s growth strategy, providing high levels of operational visibility and a scalable platform for cross-selling, is nearing 100 percent utilisation.”

Elsewhere, VoIP revenues jumped 54 percent to £1.9m, which AdEPT stated demonstrated the success of its 8×8 proposition and the company’s ability to assist customers in transitioning from traditional telephony.

Turnover from the public sector and healthcare customers also climbed three percent to 48 percent.

The priority for the remainder of the year will be capitalising on the shift to cloud-centric solutions, Fishwick added.

“Our focus in H2 is on the continued delivery of our stated objectives with an emphasis on the achievement of further organic growth, using the group’s strong cash generation to reduce net senior debt, as we capitalise on the macro shift to cloud-centric solutions,” he said.

“AdEPT is on track to achieve management expectations for FY22, with £900,000 of revenue and its associated margin, deferred from H1 due to supply chain issues and customer resource allocation, underpinning the board’s confidence. The group’s strategic progress, coupled with a strong pipeline of opportunities across the public and private sectors, driven by macro technology market trends, ensure that the prospects for AdEPT are stronger than ever.”

 

 



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