Redcentric plc Delays Earnings Results Release Ended 30 September 2016; Provides Net Debt Guidance as at September 30, 2016
The company provided net debt guidance as at September 30, 2016. The net debt guidance announced in the pre-close trading update is believed to be unreliable. The Board now believes net debt at the half year was approximately £30 million. The Board also believes that the underlying net debt position at 31 March 2016 was materially higher than as reported and thus the business has reduced its underlying net debt in the six months to 30 September 2016. New business sales and recognition of those sales into revenue over the six months ended 30 September 2016 have been in line with management's expectations.