AdEPT has told its investors that its business is continuing its transition from telephony towards a managed service-driven outfit.
The firm shared first-half numbers for the six months ended 30 September, with revenues remaining essentially flat due mostly to global supply chain issues. Adjusted profit after tax was also similar to the level reported at the end of FY22, at £3 million.
There was a three pe cent growth in cloud-centric strategic services, and revenues from £0.5 million to £15.1 million. means that 89 percent of group revenues are now coming from those sales, which replaced more of the legacy telephony business.
Further evidence of a shift could be seen in the nine per cent increase in VoIP revenues as the firm helped customers move away from legacy telephony products. There was a 17 per cent climb in AdEPT Cloud Services being consumed by customers.
AdEPT Group chairman Ian Fishwick said that as the organisation looked ahead, there were factors impacting the busines outside of its control, but it would be sticking to its three-pronged strategy to ensure the business continued to grow its managed services position.
The strategy that is being followed relies on organic growth, reducing gearing and making sure it has the right structure.
“One AdEPT, which lies at the heart of the group’s growth strategy, providing high levels of operational visibility and a scalable platform for cross-selling, is now used by 100 percent of our staff members, with its tooling enabling the group to balance workforce skills, share knowledge and distribute tasks across unified teams”, said Fishwick.
Fishwick added that headwinds, constraining organic growth, remained. But the group had made good strategic progress and there remains a strong pipeline of opportunities across the public and private sectors, driven by macro technology market trends, and helped by specific government initiatives relating to education.
