By Iain Gilbert
Date: Thursday 25 Apr 2024
LONDON (ShareCast) - (Sharecast News) - Cleaning firm React Group said on Thursday that revenues and profits had both grown in the six months ended 31 March.
React said revenues had grown 14% to £10.6m as it delivered a record trading performance, with good sales growth across all three divisions of the business, while gross profits rose approximately 15% to £2.9m and adjusted underlying earnings improved 38% to £1.3m.
The AIM-listed group also said it continues to deliver "strong recurring revenues" in excess of 85% and stated the associated margin improvement was reflected in an enhanced revenue mix with higher margin repeat business and operational synergies across the firm.
Chief executive Shaun Doak said: "We are very pleased with the performance of the group in a year of considerable investment and which sees continued sales momentum across a higher margin business. In addition to the material contracts, the group continues to be awarded numerous small and medium sized wins which highlights its cross-selling capability. The pipeline for the remainder of the year remains robust which provides the board with a high degree of confidence in achieving full year market expectations."
As of 1210 BST, React shares were up 4.23% at 71.40p.
Reporting by Iain Gilbert at Sharecast.com
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Currency | UK Pounds |
Share Price | 75.00p |
Change Today | -1.00p |
% Change | -1.32 % |
52 Week High | 85.00 |
52 Week Low | 62.50 |
Volume | 10,815 |
Shares Issued | 21.55m |
Market Cap | £16.16m |
RiskGrade | 389 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:35 | 1,000 @ 75.00p |
16:35 | 618 @ 75.00p |
16:35 | 382 @ 75.00p |
13:18 | 6,555 @ 76.09p |
08:12 | 3,260 @ 76.30p |
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