FINANCIALS: Servoca sees revenue rise thanks to social care division
Servoca has seen revenue increase 18.8% led by a strong performance of its health and social care and criminal justice division, according to results for the six months ended 31 March 2017.
The specialist outsourcing and recruitment solutions provider’s results, published this morning, reveals revenue of £40.93m, up from £34.44m in H1 2016 and gross profit £9.74m, up from £8.95m in the first half of 2016.
The group attributed its improved performance to its health and social care division and its criminal justice division, while its outsourcing operations delivered a “substantial” improvement in profits benefitting from sales growth and action taken in the previous year to cut overheads.
Commenting on the group’s performance CEO Andy Church said he was pleased results for the first half are significantly ahead year-on-year.
“The group continues to achieve substantial growth and our performance is benefitting from our 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 expectation.”
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