Revenues at SysGroup plc rose to £11.32 million in the six months to 30th September 2022.
The Liverpool-headquartered tech firm acquired Truststream and Orchard earlier this year and said their integration is progressing well.
“The board is pleased with the performance of both companies to date and is already seeing early signs of the potential benefits of the cross-sell opportunities,” a statement read.
SysGroup, a managed IT services, cybersecurity and cloud hosting provider, reported revenues of £7.58m in the corresponding period last year and £9.01m the year before that.
In H1 for FY23 it has reported adjusted EBITDA of £1.67m, compared with £1.34m in FY22.
The group also finished the half year with a healthy gross cash balance of £4.22m (H1 FY22: £3.47m) and a net debt position of £1.92m (£1.96m), excluding the contingent consideration of £3.08m relating to the acquisition of Truststream.
It said its sales pipeline is growing, with the investment made in FY22 into its new Manchester sales and marketing hub “starting to materialise”.
“I am pleased with the progress that we have made in H1 FY23. To have delivered a revenue and adjusted EBITDA performance in line with current market expectations, despite the numerous macro-economic challenges, is testament to the resilience of our strategy and hard work of our team,” said CEO Adam Binks.
“The benefits of the recent Truststream and Orchard acquisitions are already clear and the enlarged customer base is fully engaged in understanding what additional support we can provide from our enhanced service offering.
“I remain grateful for the continued commitment of our teams, who continue to drive the Group forward and support our customers at an increasingly important time.”