Good morning,
A few bits to cover today.
Redcentric (LON:RCN)Alpha Financial Markets Consulting (LON:AFM) – dropped this one, as not interesting enough!Tricorn (LON:TCN)Vertu Motors (LON:VTU)Volution (LON:FAN)Codemasters Group (LON:CDM)
Redcentric (LON:RCN)
Share price: 85.9p (-0.1%)No. of shares: 149 millionMarket cap: £128 millionTrading update
This is a simple one: trading in line with expectations.
Redcentric is a managed IT services provider that offers the IT/Cloud services you’d expect from a mid-sized group.
Net debt is light, at £16.5 million – no major surprise, then, to see that RCN is paying out dividends and also buying back £2 million of its own shares.
Net debt has declined over the past year despite dividend payments and “an acceleration of network and infrastructure capital expenditure in the period.”
While reported net income has been nothing to write home about in recent years, if this company hits its forecasts from now…
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