The Nasstar Group has reported strong financial annual results for 2024, with a revenue of £148.6m reflecting resilient underlying trading performance and accelerated strategic rationalisation as it focuses on next-generation solutions aligned with customers’ evolving needs.
There was also a continued operational integration of previous acquisitions, strengthening AI, data and hyperscaler capabilities, alongside consolidated service operations into a more efficient single management environment.
The Group’s strengthened capital base in 2024 reinforces its financial resilience and strategic flexibility, providing long-term assurance for customers.
Other results show the company’s comprehensive transformation programme, which has simplified its structure, decommissioned legacy technology, and consolidated systems, remains on-track for completion during the current financial year (FY 2025).
As part of this programme, the Group rolled out a refreshed visual identity and Nasstar website to help customers find the best solutions for their businesses across a streamlined portfolio of services.
The strategic pivot, from the Group’s heritage in legacy technology to a more efficient and future-ready operating model has been a multi-year process and included targeted acquisitions and the strategic restructuring of the balance sheet in 2024, which significantly reduced debt from £260.2m (FY 23) to £141.7m (FY 24), lowered financing costs, and secured further investor backing.
Together, these measures have reinforced the Group’s long-term stability and ability to deliver on its ambitions and unlock opportunities for its customers.
The Group proposition includes: future-proofing infrastructure; creating flexible and hybrid workforces; unlocking value from data; automating business processes; delivering great customer experience with AI; and managing cloud solutions.
Following completion of its transformation initiatives, the Group will focus on expanding its market presence, further deepening existing and new client relationships, and delivering measurable outcomes through secure connectivity, modern platforms, productivity solutions, and AI-enabled services.
Paul Cosgrave, Chief Executive Officer at Nasstar Group (pictured) commented: “We are entering the final stages of our transformation programme with renewed clarity on our strategic direction and our focus on next-generation services, reflected in the rollout of Nasstar’s refreshed visual identity and the Group capabilities we are building for the future.”