Marlowe H1 trading 'strong', FY results seen ahead of current market expectations
By Iain Gilbert
Date: Wednesday 24 Nov 2021
(Sharecast News) - Security systems services company Marlowe said on Wednesday that trading in the first half of the trading year was "strong" and that it now expects to report full-year results ahead of current market expectations.
Marlowe stated that its solid interim trading performance was the result of strong organic growth and the successful execution of its "Deepen, Broaden, Strengthen and Digitalise" compliance software and service strategy.
Interim revenues were up 61% at £134.5m, while organic revenue growth was 15% higher or 8% when adjusting for Covid-19 impacts.
Adjusted pre-tax profits were up 127% at £15.2m and adjusted earnings per share were 50% firmer at 16.0p as divisional adjusted underlying earnings margins increased 300 basis points to 17.8%.
Current group run-rate annualised revenues were said to have improved to £335.0m and run rate annualised adjusted EBITDA was approximately £60.0m.
"The second half of the financial year has started well, with strong demand experienced across the business, the integration programmes of all completed acquisitions remaining on track with synergies being achieved in line with expectations. In addition, the group's pipeline of earnings-enhancing acquisitions is buoyant," said Marlowe.
As of 1125 GMT, Marlowe shares were up 5.76% at 880.0p.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN