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AdEPT Technology sees less of a coronavirus impact than feared

Snapshot

 

  • Mission to ‘unify technology, inspire people’ for thousands of UK customers
  • Solutions embrace information technology, communications and networks
  • Added value services such as AdEPT Nebula and Consulting services
  • Partners with tier one providers such as Microsoft, Openreach, Virgin, Avaya and Dell

 

Data stream

Quick facts: AdEPT Technology Group PLC

Price: 261 GBX

LSE:ADT
Market: LSE
Market Cap: £65.33 m
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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 the 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

AdEPT's order intake has held up better than anticipated with cash collection improving since the end of April, it said in September.

In a statement at the company’s annual general meeting, Adept added it had provided services to entities including schools, doctor’s practices and employers to allow remote communication and home working by employees.

Interim results for the half-year to September 30 are due on November 17, and while it anticipated “encouraging progress” in the results, it said the uncertainty caused by the pandemic justified a “cautious approach” to cash distribution and as a result it did not anticipate the declaration of an interim dividend.

What the boss says: Ian Fishwick, chairman

“I remain convinced that COVID-19, whilst impacting the business in the short term, will, in many instances, accelerate the fundamental need for companies to invest in information and communications technology (ICT), as companies look to embrace the digitally empowered future in what is increasingly becoming the '4th utility'”.

“Our key indicators of new order intake, project delivery, cash collection and operational effectiveness provide encouragement during these challenging times.”

 

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