Redcentric appoints new CFO amid mixed financial results
The leadership change also follows the completion of the group’s £122.85m datacentre disposal
North Yorkshire-based MSP Redcentric has announced mixed results in its trading update for the year ended 31 March, alongside the appointment of a new CFO.
Top line dipped around two per cent to £132.1m (FY25: £135.1m), while recurring revenue remained high at approximately 88 per cent.
Adjusted EBITDA reached approximately £17.5m, ahead of FY26 market expectations of £17.2m.
The company said the performance reflected strong traction in H2 and continued cost discipline and that its recurring revenue model, lower capex requirements of an MSP and improved cash conversion provide it with confidence in the medium- to long-term outlook of the business.
“I am pleased to report that we have delivered adjusted EBITDA ahead of expectations,” said CEO Michelle Senecal de Fonseca.
“This reflects strong operational execution, disciplined cost management and the successful delivery of our strategic priorities.
“With a significantly strengthened balance sheet following the datacentre disposal, we are well positioned to accelerate growth and deliver sustainable value for shareholders in FY27 and beyond.”
CFO transition
The company also announced the appointment of Tim Sykes as CFO and executive director with immediate effect, replacing Tony Ratcliffe following a ten-month tenure.
Sykes brings more than 15 years of experience as CFO of software solutions provider Proactis Holdings.
He also served as CFO of Avacta Group, Eleco and Altitude Group.
Most recently, as CEO of Proactis, he led the company through a successful take-private transaction before joining Aptamer Group as a non-executive director and maintaining a fractional CFO portfolio supporting high-growth ventures.
Ratcliffe joined the group in August on a fixed-term basis to support the sale of Redcentric’s datacentre business to focus on its managed services operations.
The transaction completed on 30 April, with an estimated consideration of £122.85m.
The company said Ratcliffe will remain with the business for a period to support an orderly transition.
“[Sykes’] extensive experience in scaling technology companies, executing M&A transactions and driving shareholder value on AIM will be highly valuable as we focus on accelerating growth in our MSP business,” explained Senecal de Fonseca.
“I would also like to thank [Ratcliffe] for his significant contribution during a transformational period for the group, and we wish him well with his future endeavours.”