Redcentric has said triple-digit growth in sales and profits stand it in good stead for the future as it waves off non-executive director Ian Smith amid a board reshuffle.
For the six months to 30 September, profit before tax at the firm shot up a massive 375 per cent to £3.9m compared with a year ago, on sales which rose 123 per cent over the same period to £46.8m, according to a trading update this morning.
The fledgling firm – which is listed on the London Stock Exchange – is a combination of parts of Redstone, Maxima and InTechnology Managed Services (IMS) and has been trading as a single entity under the Redcentric brand since the summer.
Redcentric practically doubled in size a year ago when it snapped up IMS for £64.3m. The firm's chief executive Tony Weaver said integrating the business was going well so far.
"From September 2014 all customer support has been integrated and is being carried out from a single service desk and unified support system in our Harrogate head office," he said.
"There will be further changes behind the scenes as we work through the remainder of the integration programme, which will help to deliver further service improvements to our customers and additional cost savings. The integration has been extensive and thorough, and has provided a very strong platform from which to drive further growth."
Redcentric said H1 had benefited from a period of "relative stability" after its transformation last year and said while organic growth is the key aim, it would not rule out future buys.
"Our primary aim is to continue to grow the business organically, although the fragmented nature of the market often presents acquisition opportunities," the firm said. "We would consider these on a case-by-case basis if they were to improve Redcentric's market proposition and were attractive financially."
The firm also unveiled a string of changes to its board of directors as part of the trading update, including the departure of non-executive director and serial channel entrepreneur Ian Smith.
Smith will concentrate on his role as chief executive of Castleton Technology from now on, Redcentric said, adding that his departure is effective immediately.
Stephen Puckett, a former finance director at recruiter Michael Page International, will join the board as a non-executive director in Smith's place. Redcentric praised Smith's "fundamental contribution" to the firm's success.
CEO Weaver said the H1 results show the firm is making "great progress" and that its strategy remains unchanged.
"We seek to win new business through differentiating ourselves through innovation, reliability and value," he said. "We are able to combine the benefits of a proprietary network and datacentres with a flexible and technically skilled workforce able to deliver and support reliable services and solutions."
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