Redcentric has delivered another strong year with recent acquisitions augmenting a good organic performance. Total revenue grew 16% to £109.5m with recurring revenue up an impressive 17% (11% organic) and now 82% of total revenue. Adj. EBITDA grew 21% to £25.8m, in-line with our forecasts. As highlighted in March, an increase in customer driven capex combined with a larger than usual working capital outflow resulted in net debt at the year-end above our initial estimates. Net debt at March ’16 w ....
