69 Adept Technology Group

Revenue: £57.9m (-6%)

Net profit: -0.6% Staff: 316

This AIM-listed unified comms provider saw revenues roll back six per cent to £57.9m in its year to 31 March 2021 as Covid dented demand for its products and services. The Microsoft and Avaya partner also fell to a £340,000 net loss, compared with a £985,000 profit a year earlier. Since year end, Adept has acquired SD-WAN, cloud and security provider Datrix in a deal worth up to £16m. The Extreme Networks, Cato and Palo Alto partner adds nearly £11m to Adept's top line.

Covid impact

Business closures during lockdown saw Adept's private sector clients swap significant infrastructure projects for more tactical purchases. It consequently furloughed 70 staff (mainly school technicians unable to access site) in its H1. Fortunately, its focus on public sector (which generated 56 per cent of 2021 revenues) limited the damage.