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March 2019 Final Results

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AdEPT Technology Group plc ("AdEPT", the "Company" or together with its subsidiaries the “Group”) Final results for the year ended 31 March 2019 AdEPT (AIM: ADT), a leading UK independent provider of award-winning managed services for IT, unified communications, connectivity and voice solutions, announces its results for the year ended 31 March 2019. Financial highlights Revenue increased by 11% to £51.3m (2018: £46.4m) Gross margin % increased to 49.4% (2018: 47.7%)2 Underlying EBITDA increased by 11% to £10.8m (2018: £9.8m)3 Underlying EBITDA margin % of 21.0% (2018: 21.0%) 6% increase to adjusted fully diluted earnings per share to 29.8p (2018: 28.1p) 12% increase to dividends declared to 9.80p (Interim 4.90p, Final 4.90p) (2018: 8.75p) Year-end net senior debt of £27.1m (2018: £17.6m)1 Capital expenditure 1% of revenue (2018: 1%) Operational highlights Managed services accounted for 75% of total revenue (2018: 70%) Acquisition of entire issued share capital of Shift F7…

Former Gamma COO appointed as NED

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AdEPT Technology Group plc (“AdEPT” or the “Company”, together with its subsidiaries the “Group”) Directorate and senior management team changes Director and board appointment – Non-Executive Director AdEPT (AIM: ADT), one of the UK’s leading independent providers of managed services for IT, unified communications, connectivity, voice and cloud services, announces that Richard Bligh has been appointed as a non-executive director of the Company with immediate effect. Richard was formerly Chief Operating Officer of Gamma Communications plc (“Gamma”) and during his 13 years with Gamma was instrumental in building that company to over £1 billion market capitalisation. Richard’s knowledge of the UK technology market, and how to develop businesses, will be a great asset to AdEPT. Richard Bligh, Non-Executive Director commented: “I am delighted to be given the opportunity to join the board at AdEPT. The development of the Group to one of the UK leading managed service providers, across particularly…

Largest shareholder increases stake

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TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i   1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: AdEPT Technology Group PLC 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer   2. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rights x An acquisition or disposal of financial instruments   An event changing the breakdown of voting rights   Other (please specify)iii: Placing   3. Details of person subject to the notification obligationiv Name Christopher Kingsman City and country of registered office (if applicable)   4. Full name of shareholder(s) (if different from 3.)v Name Greenwood Investments…

Holdings in Company

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TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)I   1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: AdEPT Technology Group PLC 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer   2. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rights x An acquisition or disposal of financial instruments   An event changing the breakdown of voting rights   Other (please specify)iii: Placing   3. Details of person subject to the notification obligationiv Name Shelley Rosen City and country of registered office (if applicable)   4. Full name of shareholder(s) (if different from 3.)v Name   City…

Acquisition of ACS and new banking facility

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The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain AdEPT Technology Group Plc (“AdEPT” or the “Company”) Acquisition of Advanced Computer Systems Group Limited and  Extension of Bank Facility AdEPT Technology Group plc, one of the UK’s leading independent providers of managed services for IT, connectivity, unified communications solutions and cloud services, announces that it has signed an agreement to acquire the entire issued share capital of Advanced Computer Systems Group Limited and its trading subsidiary Advanced Computed Systems Limited (“ACS”), (together referred to as “ACS Group”) a well-established UK based specialist provider of IT services focused on the education sector. Acquisition highlights Initial consideration of £5.24 million less the net debt of ACS Group at 31 March 2019…

Copper Out, Fibre In

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An update on the PSTN Closure and WLR withdrawl programme   "Last year, in 2018, OpenReach announced the closure of the telephone network in six years’ time at the end of 2025. Since the announcement, a series of consultations have been taking place with Industry. The impact of the removal of the copper network, including tail circuits, telephone lines and more will be the biggest shakeup for UK telecoms since the privatisation of British Telecom in 1984. The rush to get Britain fibred is being led by the Department of Digital, Culture, Media and Sport and is becoming increasingly important in the event of Brexit to ensure that the UK is ready to take on the world." (Mike Thomas - Managing Director Innopsis (To find out more click here)) Ross Comfort, Head of Operations based at AdEPT's Head Office in Tunbridge Wells was invited to speak about this pending closure…

Holdings in company

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TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)I 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: AdEPT Technology Group PLC 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer 2. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rights x An acquisition or disposal of financial instruments An event changing the breakdown of voting rights Other (please specify)iii: Placing 3. Details of person subject to the notification obligationiv Name Downing LLP City and country of registered office (if applicable) London, UK 4. Full name of shareholder(s) (if different from 3.)v Name MI Downing UK Micro-Cap Growth Fund…

March 2019 trading update

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The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain AdEPT Technology Group PLC (“AdEPT” or the "Company" together with its subsidiaries the “AdEPT Group”) Trading Update AdEPT (AIM: ADT), one of the UK’s leading independent providers of managed services for IT, unified communications, connectivity and voice solutions, today announces a trading update for the year ended 31 March 2019, ahead of the audited final results which are expected to be announced in early July 2019. The Board is pleased to report a year of continued further progress and delivery of our organic and acquisitive growth strategy. We have seen substantial growth across the AdEPT Group, alongside important acquisitions which have extended our geographic reach and our product range. Key…

Directorate change

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The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain  AdEPT Technology Group plc  (“AdEPT” or the “Company”, together with its subsidiaries the “Group”) Directorate changes  AdEPT (AIM: ADT), one of the UK’s leading independent providers of managed services for IT, unified communications, connectivity, voice and cloud services, announces that Christopher Kingsman has resigned as a non-executive director of the Company with immediate effect. Christopher Kingsman said, “I have thoroughly enjoyed my time working with the team at AdEPT. The business is extremely well run, and Ian has built a platform that will allow our new CEO to build a long-term growth company. It was a pleasure to be part of the process in recruiting Phil Race as our new…

Directorate changes

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10 December 2018 AdEPT Technology Group plc (“AdEPT” or the “Company”, together with its subsidiaries the “Group”) Directorate changes AdEPT (AIM: ADT), one of the UK’s leading independent providers of managed services for IT, unified communications, connectivity, voice and cloud services, announces the following Board changes. The Board is pleased to announce that Phil Race is being appointed as an executive director with immediate effect and as Chief Executive from 1st January 2019, with Ian Fishwick becoming Chairman at that time. Ian will continue to head the Group’s acquisition initiatives, with Phil taking over the day to day management roles from Ian, while supporting him with M&A activities. Roger Wilson, the current Chairman, will become Deputy Chairman. There are no changes to the composition of the Audit Committee and Remuneration Committee of the Company as a result of the Board changes. Over a 20-year career Phil has headed businesses within…
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