Date: Thursday 13 Mar 2014
LONDON (ShareCast) - UK office services provider Restore hiked its dividend by over a quarter after a strong increase in adjusted profits in 2013.
The AIM-listed group said that adjusted profits surged by 61% to £10m last year on revenues that rose 24% to £53.6m.
Results were helped by a strong performance from the core Records Management business within the Document Management division. Meanwhile, the Relocations division was boosted by a full year’s contribution from office relocations unit Harrow Green as well as the acquisition of Restore IT Efficient.
Exceptional items totalled £3.4m in 2013, up slightly on 2012, mainly due to costs associated with the three acquisitions Restore made during the year.
Statutory profits, which include these exceptionals, amortisation, discontinued activities and share-based payment charges, totalled £5m in 2013, up from £1.5m the year before.
The board recommended a full-year dividend of 1.9p per share, up 27% year-on-year. Net debt was reduced by £1.8m to £16m.
"We were pleased with our performance in 2013 and the further progress we made in line with our strategy of growing a market-leading UK office services business,” said Chief Executive Charles Skinner.
“The current year has started in line with our expectations.”
The stock was up 2.3% at 189.8p in early trading on Thursday.
BC
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 275.00p |
Change Today | -1.00p |
% Change | -0.36 % |
52 Week High | 278.00 |
52 Week Low | 125.00 |
Volume | 121,084 |
Shares Issued | 136.92m |
Market Cap | £376.54m |
RiskGrade | 1 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
Strong Buy | 5 |
Buy | 2 |
Neutral | 0 |
Sell | 0 |
Strong Sell | 0 |
Total | 7 |
Latest | Previous | |
---|---|---|
Final | Interim | |
Ex-Div | 06-Jun-24 | 21-Sep-23 |
Paid | 09-Jul-24 | 20-Oct-23 |
Amount | 3.35p | 1.85p |
Time | Volume / Share Price |
11:52 | 2,000 @ 277.00p |
11:42 | 6,116 @ 277.00p |
11:35 | 70 @ 276.25p |
11:16 | 681 @ 276.16p |
10:59 | 87,065 @ 272.00p |
You are here: research