FINANCIALS: Servoca sees revenue jump 19%

Specialist outsourcing and recruitment solutions provider Servoca has seen revenue jump 18.8% year-on-year, according to unaudited interim results for the six months ended 31 March 2017.

The results, published this morning, reveal revenue rose to £40.93m from £34.4m on the previous year. Gross profit also rose 8.8%, from £8.9m to £9.7m, along with earnings before interest, tax, depreciation and amortisation from £1.52m to £1.95m over the same period.

Across the group, the firm’s security business posted a “substantially” improved performance, the firm’s criminal justice business saw “continued” positive momentum, while its healthcare recruitment division witnessed another period of “significant” year-on-year growth.

However, the firm’s domiciliary care business witnessed a “challenging” year, while there were also “tougher” conditions for the group’s education recruitment business.

Commenting on the group’s performance over the period, CEO Andy Church pointed to substantial growth for the business and a performance benefitting from a diversified business mix. 

“The group operates in six distinct markets and revenues in each one were ahead of the corresponding period last year. Performance in the first half leaves the group well placed to deliver against full-year expectations,” he added.

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