What AdEPT does
AdEPT Technology PLC (LON:ADT) is one of the UK’s leading independent providers of managed services for IT, unified communications, connectivity and voice solutions.
The company’s tailored services are used by thousands of customers across the UK and are brought together through strategic relationships with tier-1 suppliers such as Openreach, Vodafone, Virgin Media, Avaya, Microsoft, Dell and Apple.
The group serves a wide variety of sectors in the UK including health, education and government as well as both small and big businesses.
How it’s doing
In April, AdEPT said it expects to meet current market forecasts for revenue and EBITDA for the financial year to end March 2021.
The IT services company said it delivered a resilient performance in the fourth quarter, despite the ongoing challenges of the COVID-19 pandemic, and that sustained customer demand meant it did not need to use the UK’s furlough scheme during the quarter unlike in Q1 and Q2.
As a result of the pandemic and in line with market expectations, the board confirmed that no final dividend will be proposed in FY21. The board will provide an update on the company's dividend policy alongside its results for the six months to end September 2021.
In February, AdEPT reinstated its earnings guidance for the year. It expects to release its full-year results in July 2021.
What the boss says: Ian Fishwick, chairman
“We believe that the pandemic has served to reinforce the importance of our core competencies and that there is increasing demand for the solutions we provide"
