StockMarketWire.com - IT services provider SysGroup booked a first-half loss as a jump in revenue was more than offset by expenses, including acquisition, property exit and restructuring costs.
Pre-tax losses for the six months through September amounted to £0.37m, compared to losses of £0.35m on-year.
Revenue rose 60% to £9.3m and adjusted profit rose to £0.65m, up from £0.26m.
'I am pleased to report that SysGroup continues to deliver strongly against its stated strategy, with recurring revenues now representing almost 80% of our total income compared to 68% when I stepped into the chief executive role in April 2018,' CEO Adam Binks said.
The company was continuing to trade in line with management's expectations, he added.
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