The Nasstar Group (“the Group”), a leading technology partner for the UK’s upper mid-market, enterprise, and public sector organisations today announces its 2024 annual results for the year ended 31st December 2024.
FY 2024 Operational Highlights
Rationalised the portfolio to focus on core next-generation services, aligned with customers’ evolving needs
Continued operational integration of previous acquisitions, strengthening AI, data and hyperscaler capabilities
Consolidated service operations into a more efficient single management environment
FY 2024 Financial Performance
Revenue of £148.6m (2023: £176.2m), reflecting resilient underlying trading performance and strategic rationalisation as the Group focuses on next-generation solutions
Balance sheet restructuring completed, reducing net debt from £260.2m (FY 23) to £141.7m (FY24) and lowering interest costs
Strengthened capital base reinforces financial resilience and strategic flexibility, providing long-term assurance for customers
The Group is pleased to report that the 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 our streamlined portfolio of next-generation 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. This included targeted acquisitions and the subsequent strategic restructuring of the balance sheet in 2024, which significantly reduced debt, 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 Nasstar 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.
We are entering the final stages of our transformation programme with renewed clarity on our strategic direction and our focus on next-generation services. This is reflected in the rollout of Nasstar’s refreshed visual identity and the Group capabilities we are building for the future. Against the backdrop of a rapidly evolving technology landscape, where organisations face growing pressures to modernise infrastructure, embrace AI, and unlock value from data, our teams of experts are well-positioned to help our customers navigate complexity and innovate to succeed.
