Redcentric plc, the Harrogate-based IT managed services provider (MSP), on Monday published a “robust” trading update for the year to March 31, 2026, “delivering adjusted EBITDA above expectations” and announced the appointment of a new chief financial officer.
“Revenues for the MSP business for FY26 totalled c.£132.1 million (FY25: £135.1 million),” said Redcentric.
“Recurring revenues remained high at c.88%, underpinning excellent earnings visibility. Gross profit margin was c.61.0% (FY25: 61.6%).
“Adjusted EBITDA for the MSP business for FY26 totalled c.£17.5 million, ahead of FY26 market expectations of £17.2 million.
“This performance reflects strong traction in the second half and continued effective cost discipline. The second half also saw the company implement certain strategic investments designed to drive accelerated revenue growth and improved earnings from H2 FY27 and beyond.
“Whilst the sector remains highly competitive, as noted in the interim results, the company remains focused on securing and maintaining long-term higher margin business with continued tight cost control, to ultimately drive higher quality of earnings …
“The robust performance in FY26 highlights Redcentric’s market-leading position in UK managed IT services. The board remains focused on expanding high-quality recurring margin streams while maintaining disciplined cost management to deliver sustainable value for shareholders.
“The recurring revenue model, lower capex requirements of MSP and improved cash conversion provide the Board with confidence in the medium to long term outlook of the business.”
Redcentric CEO Michelle Senecal de Fonseca said: “I am pleased to report that we have delivered Adjusted EBITDA ahead of expectations.
“This reflects strong operational execution, disciplined cost management, and the successful delivery of our strategic priorities.
“With a significantly strengthened balance sheet following the data centre disposal, we are well positioned to accelerate growth and deliver sustainable value for shareholders in FY27 and beyond.”
Redcentric also announced the appointment of Tim Sykes as its chief financial officer and executive director with immediate effect.
“Tim is an experienced CFO with over 30 years of financial experience, including 15 years as CFO of AIM listed Proactis Holdings plc,” said Redcentric.
“He has varied operational, transactional, and strategic experience and driven significant growth, both organically and via M&A.
“He concurrently served as CFO at Avacta Group plc, Eleco plc and Altitude Group plc, playing a key role in multiple acquisitions and fund-raising rounds.
“Most recently, served as CEO of Proactis, he led the company through a successful take private transaction, then subsequently joined Aptamer Group plc as a non-executive Director and also maintained a fractional CFO portfolio supporting high-growth ventures.
“Tim qualified as a Chartered Accountant with KPMG.
“Tim replaces Tony Ratcliffe, who joined the Group in August 2025 on a fixed-term contract to support the sale of the data centre business and the transition to a pure-play MSP.
“The sale of the data centre business to Stellanor Datacenters Group Limited successfully completed on 30 April 2026 with an estimated consideration of £122.85 million. Tony will remain with the business for a period to support an orderly transition.”