Adept Technology has fallen too far

Managed IT and networking services provider AdEPT Technology (LON: ADT) reported flat interim revenues and lower profit, but it is paying a 2.6p a share interim dividend. Short-term trading continues to be difficult, but AdEPT Technology’s strategy means that long-term it should prosper.

In the six months to September 2022, revenues dipped from £34.3m to £34.2m – 73% recurring. The mix is different, though. Managed services revenues grew, although the gross margin on these revenues fell from...

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