Highlights
Strong revenue growth: revenue up 16% to £109.5m (2015: £94.3m), representing 8% organic growth
o Recurring revenue up 17% (11% organic) to £90.2m (2015: £76.8m)
o Recurring revenue 82% of total (2015: 81%)
Improved profitability: adjusted EBITDA up 21% to £25.8m (2015: £21.4m)
o Adjusted EBITDA margin of 23.6% (2015: 22.7%)
o Operating profit £8.4m (2015: £8.7m)
Adjusted EPS up 24% to 10.5p (2015: 8.5p). Statutory EPS 3.6p (2015: 5.5p)
Final dividend up 20% to 3.0p per share (2015: 2.5p), growing total dividends for the year by 29% to 4.5p per share (2015 3.5p)
Total net borrowings of £25.3m (2015: £7.2m)
Calyx acquisition fully integrated, and City Lifeline on track. Capacity available to support additional growth through acquisition
Fraser Fisher, Chief Executive Officer of Redcentric commented:
"The good progress seen in the first half continued into the second half of the year, and we're pleased with the 17% growth in our recurring revenue base and the increase in profitability. The two acquisitions we completed during the year have been integrated and are performing well. We are continuing to invest in the business to provide our customers with a broad range of solutions delivered from our own infrastructure, allowing them to concentrate on growing their own businesses."
