Servoca grows profits and revenue
29 January 2014
AIM-listed provider of specialist outsourced solutions Servoca has announced rises in both revenue and profits.
Wed, 29 Jan 2014AIM-listed provider of specialist outsourced solutions Servoca has announced rises in both revenue and profits.
According to its preliminary results for year ended 30 September 2013, released to the City, revenue grew from £42.45m in 2012 to £43.1m, while gross profit was up from £11.98m to £12.3m.
Other financial highlights are:
• Administrative expenses (excluding amortisation and share-based payments) £11.4m (2012: £11.7m)
• Profit before taxation (excluding amortisation and share-based payments) £0.8m (2012: £0.2m)
• Net debt decreased to £3.07m (2012: £3.27m)
Servoca chief executive officer Andy Church says: “We are very pleased to have returned to growth after a challenging period. We now have a solid cash-generative and profitable platform from which to drive the business forward, both organically and through suitable acquisitions.”
According to its preliminary results for year ended 30 September 2013, released to the City, revenue grew from £42.45m in 2012 to £43.1m, while gross profit was up from £11.98m to £12.3m.
Other financial highlights are:
• Administrative expenses (excluding amortisation and share-based payments) £11.4m (2012: £11.7m)
• Profit before taxation (excluding amortisation and share-based payments) £0.8m (2012: £0.2m)
• Net debt decreased to £3.07m (2012: £3.27m)
Servoca chief executive officer Andy Church says: “We are very pleased to have returned to growth after a challenging period. We now have a solid cash-generative and profitable platform from which to drive the business forward, both organically and through suitable acquisitions.”
