Redcentric’s FY’16 results highlight the high quality, predicable company that the group has become. Group revenue grew 16% to £109.5m with adj. EBITDA up 21% to £25.8m, both in-line with forecasts. Recurring revenue remains the focus and showed an impressive 17% growth (11% organic) making up 82% of total revenue. Higher customer-led capex and a one-off working capital outflow resulted in net debt rising to £19.9m against our original £10.2m forecast. We believe the working capital outflow will ....
