Nasstar Plc Strategy to Increase Profits Pays Off
In news / By Lydia Cooper / 01 May 2018
CEO Nigel Redwood talks to DirectorsTalk about its results for the year ended 31 December 2017. Nigel talks us through the financial highlights, the progress made with the Nasstar 10-19 programme, how its fully managed cloud solution is progressing, Nigel’s thoughts on the market and the strategy for the rest of the year.
2017 was focused on maximising the opportunity that was presented by the previous three years’ acquisition activity. This focus saw the launch of the “Nasstar 10-19” programme designed to deliver an increased strategic focus to create one fully integrated business.
The resultant benefits of the “Nasstar 10-19” plan were realised with the Adjusted EBITDA** margin increasing to 23% against the target of 25% by the end of 2019.
Top to bottom organisational structure redesigned to deliver an integrated company, with one team for each function across the Group, managed by one leadership team.
Organic business development progressed well in 2017 with clear signs that the Nasstar offering is continuing to be more attractive to clients of an increased size.
Our industry leading capability in “public/private” cloud hybrid solutions was in evidence in November’s contract win which secured a three-year contract to deliver a fully managed solution to a global workforce of 1,000 users.
Significant investment was made in the account management team designed to develop a consistent first class approach to customer service and maximise the revenue opportunity presented by the enlarged customer base.
All UK based out of hours support migrated to the Nasstar New Zealand office, generating operational efficiencies across the Group.
As part of the “Nasstar 10-19” programme, plans were initiated to close three of the Group’s seven UK data centres. One of these three was successfully closed in 2017 with the final two now due for closure during 2018.
The Group’s professional services team has been active on the development of its own application functionality, enhancing Nasstar’s own IP whilst helping contribute to customer retention.
Broadening of the professional services team remit to create a public cloud centre of excellence, enabling Nasstar to deliver value added consultancy to clients that enables them to maximise the benefits of the public cloud feature set.
For the second year running Nasstar is listed in the “1,000 Companies to Inspire Britain”.
Nigel Redwood, Chief Executive Officer of Nasstar Plc, commented: “2017 was a pivotal year for Nasstar, a year in which we focused on maximising the opportunities which our previous acquisition activity had created.