{"id":149609,"date":"2020-05-17T18:31:04","date_gmt":"2020-05-17T18:31:04","guid":{"rendered":"https:\/\/www.bnreport.com\/adept-technology-continues-brand-unification-as-acquisitions-begin-to-pay-off\/"},"modified":"2020-05-17T18:31:04","modified_gmt":"2020-05-17T18:31:04","slug":"adept-technology-continues-brand-unification-as-acquisitions-begin-to-pay-off","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/adept-technology-continues-brand-unification-as-acquisitions-begin-to-pay-off\/","title":{"rendered":"AdEPT Technology continues brand unification as acquisitions begin to pay off"},"content":{"rendered":"

<\/p>\n

What AdEPT does<\/h3>\n

AdEPT Technology PLC (LON:ADT<\/a>) is a non-network based telecommunications company that provides fixed line calls, line rental, telephony, and broadband to business and residential customers.<\/p>\n

The group serves a wide variety of sectors in the UK including health, education and government as well as both small and big businesses.<\/p>\n

A \u00a34.25mln fundraising in February was completed to finance potential acquisition opportunities.<\/p>\n

How its doing<\/h3>\n

For the six months to the end of September saw revenue rise by 26% to \u00a330.8mln from \u00a324.4mln in the same period of last year.<\/p>\n

Managed services revenue, which now forms 82% of total revenue (2018: 74%), rose by 39% to \u00a325.1mln from \u00a318.0mln the year before.<\/p>\n

Organic year-on-year revenue growth in the period clocked in at 2.5%, driven mainly by information technology and managed connectivity services.<\/p>\n

Reported profit before tax decreased to \u00a31.15mln from \u00a31.70mln the previous year, due to the \u00a3870,000 increase in amortisation and \u00a3394,000 increase in interest charges, with the latter arising from a higher average net debt position as a consequence of the four acquisitions completed in the last 14 months.<\/p>\n

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), which excludes one-off acquisition costs, restructuring costs and share-based payments, climbed by 18% to \u00a36.1mln from \u00a35.2mln the previous year while the EBITDA margin eased to 20% from 21%.<\/p>\n

The interim dividend was increased by 5.1p to 4.9p as cash conversion improved to 90% from 82%, while net senior debt at the end of September stood at \u00a331.5mln.<\/p>\n

In 2020, AdEPT delivered network services to more than 100 hospital and specialist care sites as part of a government contract with the NHS, which was taken over from BT.<\/p>\n

It is now carrying out services to 300 general practice surgeries in Kent, to complete the upgrade of the entire NHS network in the region.<\/p>\n

Inflexion points<\/h3>\n