Redcentric update boosts share price

AIM-listed IT service firm Redcentric (LON:RCN) saw its share price climb by 23.45% to 126p (as of 15:30 BST) after it said that recurring revenues for the first quarter were significantly ahead of the guidance previously provided. Customer installations were also expected to be slightly ahead of last year, but the company warned that some largescale projects had been deferred due to the COVID pandemic.

Results for the year ended 31st March will be published next month and the board will not be recommending the payment of a final dividend.