- Sysgroup
- 29 April 2025 16:40:02
Source: Sharecast
The technology services provider, which focuses on digital and AI transformation for UK SMEs, highlighted significant improvements in its balance sheet following a successful fundraising earlier in the year.
It said it ended the period with gross cash of £8.7m and net cash of £3.6m, a marked turnaround from the £3.4m net debt reported in the 2024 financial year.
Capital investments during the year included £1.8m to complete the earn-out for its 2022 acquisition of Truststream Security, £0.7m in capex including spend on its AI service desk platform, and £0.3m for the acquisition of Crossword Consulting’s trade and assets.
“Over the past year, we have made substantial investments to position the Group as a leading provider of end-to-end solutions for SMEs on their AI and machine learning journey,” said chair Heejae Chae.
“Our rapid progress in hyper-scale cloud saw us achieve AWS Advanced Partner status within six months - a significant milestone that reflects our technical strength and execution capabilities.
“We are making strong progress towards becoming the 13th AWS Managed Service Provider in the UK - this milestone will enable us to deliver the scalable, future-proof cloud foundations SMEs need to launch and accelerate their AI journey.”
Chae said the company had also strengthened its cybersecurity offering, becoming one of only three UK-based Advanced Partners for Rubrik, a leader in data security and cloud data management.
“Our acquisition of Crossword Security Consulting further expands our capabilities into cybersecurity-as-a-service, penetration testing, and virtual CISO services, allowing cross-selling opportunities.
“Internally, we are transforming into an AI-led organisation, showcasing the innovation we deliver to our clients.
“Backed by a strong balance sheet, we remain well-positioned to drive growth both organically and through strategic acquisitions.”
At 0804 BST, shares in SysGroup were up 1.11% at 22.75p.
Reporting by Josh White for Sharecast.com.