But technology firm’s revenues fall back
Technology company SSP Group has reported earnings before interest, tax, depreciation and amortisation (EBITDA) of £18.2m for the 12 months to 31 March 2013, up 1.8% on the £17.9m reported in 2012.
The company also improved its EBITDA margins, which increased 0.8 percentage points to 25.8% from 25% in 2012.
However, revenues fell to £70m, from £71.7m in the previous year, although SSP managed to increase recurring revenues by 2.2% to £56m (2012: £54.8m).
Product roadmap
SSP invested £5m in product and service development over the financial year, including £2m on a strategic product roadmap.
Cash held by the group grew to £16.7m over the year, from £12.8m in 2012. It also managed to pay down existing senior debt, which has fallen 6.3% to £67m (2012: £71.5m).
SSP Group chief executive Laurence Walker said: “We have delivered another strong set of results despite a sluggish marketplace, maintaining our profitability and high levels of recurring revenue.
“The outlook for the industry remains positive despite the slow recovery of the UK economy. We won a number of significant contracts across all of our divisions, as well as securing sizeable contract extensions with large customers.”
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