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Wednesday 14 August 2019

SCC’s UK profits rocket

sccSCC, the European IT business that is part of the Rigby Group, has released its financial results for the year to the end of March 2019.

Revenue was up 18% to £2.2bn, with EBIT up 1.7%. Stars of the show were the UK and French product (i.e. resale) businesses, which saw revenue leap 23% and 20% respectively. As for the UK Services business, our estimates suggest it grew pushing 5% in the year, taking it over the £200m milestone. That is slightly faster than the Group growth figure of 4% (to £337m). 

Meanwhile, profits (operating profit before interest and tax) in the UK leapt 17%. Those profit levels are important because SCC continues to plough some of the funds back into the business. During the year, the company invested “significantly” in its capital programmes to ensure it maintains its pace of evolution to meet customer requirements as they ‘go digital’.

Going forward, the funds are there to buttress organic growth and appropriate acquisitions. In the year just closed, SCC acquired Chessington-based avsnet (November 2018) and Hobs On-site, the BPO arm of Hobs Group (May 2018). We expect to see more of these targeted acquisitions as the current year continues.

Posted by Kate Hanaghan at '08:26' - Tagged: results   cloud   datacentreservices   profits   growth  

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