The once acquisitive SYSGroup (LSE:SYS) shares fell 3p to 43.5p and to a £21m Mkt Cap after reporting robust but unexciting final for the year to end March 2021. An 18% increase in Adjusted PBT to £2.1m was reported after a 7% fall in Revenue to £18.1m.
SYS manage IT Services and are a cloud hosting provider with 79% of its revenue recurring. The market for managed and cloud services is large, growing, and long term as it is driven by the structural move to cloud delivered solutions and IT outsourcing in general.
Covid has reiterated that almost all businesses will have no option other than to embrace technology to thrive. SYS ‘cloud- services are used by wide range of industries, including financial services, education, retail, gaming, insurance, and charitable organisa…
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