Liverpool-headquartered IT managed services and cloud hosting provider SysGroup returned to making a pre-tax profit during its latest financial year, which was hit by the Covid-19 pandemic.
The listed group has reported a profit of £210,000 for the 12 months to March 31, 2021, up from a loss of £230,000 it posted in the prior year.
Its adjusted EBITDA also increased over the same period from £2.81m to £2.91m while its adjusted pre-tax profit went from £1.76m to £2.09m.
However, the group's revenue dipped from £19.49m to £18.13m.
The new figures come after SYSGroup warned in April that its revenue would be lower than in the previous year due to the impact of the pandemic.
The group recently opened a new office in Manchester and created 30 jobs.
Chief executive Adam Binks said: "I am pleased to report that the business has performed well over the last year given the significant challenges posed by a full 12-month period of lockdown restrictions.
"Improved Adjusted EBITDA and increased net cash, despite ongoing investment for the future, reflect our high levels of recurring revenues, strong operational controls and cash flow generative model.
"Further I must once again pay testament to our fantastic team who have worked tirelessly throughout this exceptionally challenging time to ensure that SysGroup continues to thrive, and both the Board and I are extremely grateful for their efforts."
"As lockdown restrictions ease and greater economic certainty returns, I have no doubt that investment into IT will be a major priority for many business leaders, as the pandemic has made our industry more relevant than ever.
"With a clear market focus and with the operational developments made over the past year, SysGroup is well placed to take advantage of this anticipated growth.
"The strength of our balance sheet coupled with our supportive investor base will also enable us to continue to be a consolidator in a fragmented, growing market, and I look forward to the future with confidence."
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