Vaccine countdown update: 17 Nov (2) - quality is worth the premium
Quality is worth paying a premium for and a company covered here has many of the attributes of an extremely good business. Others look more challenged, as you can discover here.
AdEPT: results underwhelmAdEPT Technology Group (LON: ADT), a leading provider of managed IT services announced results for the six months ended 30 September 2020. While the numbers have held up reasonably well, we were actually anticipating somewhat better over a time when many businesses meaningfully increased expenditure on IT to support operations and remote working. Revenue fell 7.6% to £28.5m and adjusted profit after tax was 20.5% lower at £3.1m. The statutory results were a post tax loss of £301k after £3.6m of amortisation and depreciation and £480k of restructuring costs. The all-important recurring revenue increased to 78% of total…