Further Trading Update

RNS Number : 9513D

SysGroup PLC

02 May 2017

 

2 May 2017

SysGroup plc

("SysGroup" or the "Company" or the "Group")

Further Trading Update

SysGroup PLC (AIM: SYS), the managed services and cloud integrator, provided a trading update on 6 April 2017 in which it noted that the Group expected to report a statutory profit before tax of approximately £0.5m for the year ended 31 March 2017.  The calculation undertaken omitted a non-cash fair value adjustment relating to the settlement of the final earn out payment in respect of the Group's acquisition of Q4Ex Ltd. As a result, the statutory profit before tax is now expected to be approximately £0.35m.

Adjusted PBT¹ is expected to be marginally ahead of previous guidance at approximately £0.44m. All other guidance remains unchanged. As previously advised, the Company expects to announce its full year results on 7 June 2017.

(1)      Adjusted PBT is profit before taxation after adding back share based payments, amortisation on acquired intangibles and exceptional costs

For further information please contact: SysGroup plc Chris Evans, CEO Julian Llewellyn, CFO	Tel: [phone]
Shore Capital (Nomad and Broker) Bidhi Bhoma / Edward Mansfield	Tel: [phone]
Alma PR (Financial PR) Josh Royston / Hilary Buchanan / Helena Bogle	Tel: [phone]

About SysGroup

SysGroup is a leading provider of Cloud Hosting, Managed Services and expert IT Consultancy. The Group delivers solutions that ensure clients understand and benefit from industry-leading technologies and advanced hosting capabilities.  The SysGroup team focuses on a customer's strategic and operational requirements - enabling them to free up resources, grow their core business and avoid the distractions and complexity of delivering IT services.

The Group has offices in Liverpool, Coventry, London and East Sussex.

For more information, visit http://www.sysgroup.com

 

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