16 March 2015 – trading update
The IT managed services provider has issued a pre-close trading statement for the second half of the financial year ending on 31 March which has confirmed that results are expected to be in line with expectations. Strong cash generation will allow for a further reduction in debt as well as a progressive dividend policy. The low level of gearing should also permit acquisitions if suitable opportunities can be identified. Trading in the second half has continued the pattern of the first half with a good performance across the whole business and strong growth in recurring revenues. The shares remain a FIRM HOLD.