SysGroup plc (GB:SYS) has released an update.
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SysGroup plc, a key player in cloud, data, and security services, reports a 5% revenue increase to £22.7m and a significant new contract win with a challenger bank, highlighting a successful strategic transformation towards AI/ML solutions for SMBs. Despite substantial investments leading to an Adjusted EBITDA of £2m, the company’s year-end cash position lowered to £1.9m with a net debt of £3.4m. Executive Chair Heejae Chae emphasizes the company’s rapid development in AI/ML capabilities, aiming to position SysGroup as the go-to partner for UK businesses in technology transformation.
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