AdEPT: AGM Statement

25th September 2019 | AdEPT Technology Group PLC

AdEPT Technology Group plc, one of the UK’s leading independent providers of managed services for IT, connectivity, unified communications solutions and cloud services, is holding its 2019 annual general meeting at 10.15am today at 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS. At the meeting, the Chairman, Ian Fishwick, will make the following statement:

“I am pleased to report that, in the 6 months to the 30 September 2019, AdEPT made considerable progress in its strategy of further expanding its managed service and IT capability, with continuing geographical expansion. This progress has been made through a combination of organic sales from IT and managed services and the contribution from our acquisition of Advanced Computer Systems UK Limited (“ACS”), an education-focused IT business. Providing a full suite of managed services, AdEPT is in an excellent position to take advantage of the continuing convergence between IT and telecoms.

Following the award of Health and Social Care Network compliance authorising AdEPT to sell data networks to the NHS, the Company successfully won the contract to design and roll out a super-fast network infrastructure across all departments and sites of Kent NHS. During the last 6 months the service delivery team have been successfully carrying out the roll out of the wide area network, including managed firewalls, in more than 400 sites across Kent, including hospitals, hospices and GP surgeries.

The Company’s most recent acquisition in the IT space, ACS, was announced in April 2019. ACS is an independent IT service provider, based in Doncaster, focused on providing IT services and has a strong public sector presence, including managing and supporting the IT function of approximately 200 schools and academy trusts. The highly skilled team, together with the well-matched customer base and product set at ACS complements AdEPT’s existing IT managed services offering where AdEPT provides services to thousands of schools and academy trusts. ACS provides a geographical extension to the existing education focused centre of excellence of AdEPT based in Orpington, and offers an opportunity for cross-sell the software and applications developed by the in-house software team at AdEPT. ACS Group is our second acquisition in Yorkshire, following the acquisition of ETS Communications Limited (“ETS”) in November 2018. The IT skills of ACS are highly complementary to the unified communications expertise of ETS and it is anticipated that they will work closely together, with the ETS team in the process of relocating from their Wakefield office to the ACS offices in Doncaster.

The integration of ACS into the AdEPT group has been largely completed, with the finance function being integrated into the Orpington office of AdEPT. As this acquisition was made at the start of the current financial year, it will have a full six-month contribution to the interim financial results.

Over the last 6 months the AdEPT team has been working hard on the ‘One AdEPT’ project, including initiatives in relation to sales, marketing, systems and branding. This includes the recent release of the new look group-wide AdEPT website, including investor relations which I would encourage you to take a look at. The business now has over 300 talented individuals working to the mission “uniting technology, inspiring people” and I would like to take the opportunity to thank this team for their continued engagement with AdEPT and their hard work as they are instrumental to the success of the business.

Our interim results for the 6 months ended 30 September 2019 are expected to be published on 12 November 2019, and the Board is confident that the interim results will support its progressive dividend growth policy. Therefore, the Directors intend to declare an interim dividend at the time of the interim results announcement in November 2019.”

Investor Meetings and Roadshows

As with all companies on Five Minute Pitch TV, we organise nationwide investor roadshows for AdEPT Technology Group. We will be visiting all major UK cities with AdEPT. Professional investors wishing to attend can e-mail Nick Peters at nickp@fmp-ir.co.uk

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