Appointments

SysGroup plc’s chief financial officer, Owen Phillips, has notified the board of his intention to step down with immediate effect.

Phillips is leaving to pursue a new opportunity but will support the group over the next few months to provide an orderly handover.

He will be succeeded by Craig Ormesher as interim CFO. Ormesher has served as group financial controller since joining the group in 2024.

Ormesher was previously group financial controller at LBG Media plc from 2020, after spending 10 years in PwC’s audit practice.

SysGroup provides cloud, cybersecurity and AI transformation services for UK mid-market clients.

SysGroup improves profitability & revenues

The news came on the same day the Manchester-headquartered tech group announced its audited results for the year ended March 31, 2026.

Highlights included:

  • Group revenue increased by 8 per cent to £22.1m (FY25: £20.5m)
  • Revenue in H2 increased by 17 per cent; on an organic basis, H2 revenue grew 7 per cent
  • Strong growth in cybersecurity, which now accounts for 45 per cent of total revenue (FY25: 40 per cent)
  • Adjusted EBITDA increased by 26 per cent to £1.2m (FY25: £0.95m)
  • Strong cash generation, with gross cash of £7.7m (FY25: £8.7m) and net cash of £2.7m (FY25: £3.6m), after payment of £1.25m for the acquisition of Saxis

Heejae Chae, executive chairman, said: “What we have built over the past two years is not a restructured legacy MSP; it is a fundamentally different business.

“We have leaned fully into AI, re-engineering how the company operates from the ground up rather than bolting technology onto old processes.

“AI is now operationally embedded in every function of the business, cybersecurity accounts for 45 per cent of group revenue, and we have structurally reduced our cost-to-serve while our Net Promoter Score has increased 4x over the past two years.

“FY26 shows the model working: revenue up 8 per cent, adjusted EBITDA up 26 per cent and strong cash generation, all achieved in a cautious SME spending environment.

“This is MSP 3.0: a connected, AI-native service model that breaks the traditional link between growth and headcount.

“We have entered FY27 on the same trajectory as H2 FY26, and that momentum has been maintained in the early months of the new financial year.

“The board remains confident of making further progress. The board expects to exceed market expectations for FY27.”

The group has offices in Edinburgh, London, Manchester, Pinewood and Newport.

In December 2025, SysGroup completed the acquisition of Saxis Group for a purchase price of £1.25m in cash, with a further earn-out of up to £0.5m.