47 ExcelRedstone

Doug Woodburn
clock • 1 min read

Revenue: £89.7m (-21%)

Net profit: 1%     Staff: 605

This London-based IT infrastructure, datacentre, managed services and smart buildings powerhouse saw revenues drop by over a fifth pro-rata to £89.7m in its year to 31 December 2020 as project delays in the early stages of the pandemic dented its top line. Efforts to boost the efficiency of its projects business saw gross margins rise from 20.8 to 23.9 per cent, however. During the year, it divested "non-core" arm Commensus, which it inherited through its 2018 acquisition of Redstone Converged Services.

Covid impact

Although it claimed £764,000 through the government's furlough scheme last year, ExcelRedstone said many of its core hyperscaler and financial services clients have revisited their IT infrastructure requirements in response to increased appetite for their services during the pandemic. Demand consequently "remains strong" going forward.

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