What it does
() is an online services firm that specialises in IT, communications and connectivity.
It services include cybersecurity, cloud computing, business continuity, data networking and managed IT.
Industries using the company’s services include education, health and commerce as well as the public sector.
How it’s doing
In an update in early April, the company said sales and underlying earnings (EBITDA) for the year just ended will be in line with market expectations, with the former up 19% year-on-year and the latter up 13%.
The company added that at the end of March it had £12mln in cash and stated that its revolving credit facility contains sufficient liquidity to operate effectively under all the scenarios it has modelled.
- In early April, the company said it has helped over 200,000 teachers and 900,000 students in the UK transition to remote learning during the coronavirus pandemic
- In February, AdEPT raised £4.25mln to fund potential acquisitions as part of a wider strategy to expand the business
- In January, the firm announced that it had delivered network services to more than 100 hospital and specialist care sites as part of a government contract with the NHS
Interview – Phil Race and John Swaite
What the boss says – chairman Ian Fishwick
“We are convinced that we are well-positioned to survive the economic challenges of the Coronavirus.
“This crisis has revealed the critical nature of communications, technology and the reliance on high performance and reliable networks. In the near term (post [coronavirus]) we hope to show that our IT and unified communications managed services are critical to the survival of any organisation and need to be up-to-date and performant.
“We doubt that the world of work will return completely to ‘as it was before’, indeed we anticipate a ‘new normal’ where remote working is more prevalent – increasing the dependence on effective, unified communication, highly resilient networks and cloud technology. This is what we do, it’s our mission “uniting technology, inspiring people”. In conclusion, we expect to be well placed to address the changed demands that arise.”
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