17 December 2013 – interim results
The group has announced its interim results for the 8 months to 30 September, being the first results since the company was incorporated in February. Although these revealed revenues of £21m and adjusted EBITDA of £3.6m, slightly ahead of management expectations, the results are largely irrelevant given the acquisition of InTechnology Managed Services last month as the latter has transformed the business. Although the shares have risen strongly since our recommendation at 88.5p in September they have solid momentum and we continue to rate them a BUY.