Servoca PLC Preliminary Unaudited Results

Servoca Plc (LON:SVCA) Preliminary unaudited results for the year ended 30 September 2017

 

Highlights

 

·     Revenue £80.2m (2016: £69.2m), an increase of 15.9%

 

·     Gross profit £19.7m (2016: £18.6m), an increase of 5.9%

 

·     Adjusted EBITDA* £4.4m (2016: £3.9m), an increase of 12.8%

 

·     Adjusted profit before taxation* £3.9m (2016: £3.5m), an increase of 11.4%

 

·     Profit before taxation unchanged from prior year at £2.9m (2016: £2.9m)

 

·     Cash generated from operations before tax in the year was £2.7 million (2016: £2.3 million)

·     Adjusted basic EPS of 2.56p* (2016: 2.25p), an increase of 13.8%

·     Dividend of 0.40p per share (2016: 0.35p), an increase of 14.3%

 

* Before share based payment charges, amortisation of intangible assets and contingent consideration totalling £1.0m (2016: £0.7m).

 

Andy Church, CEO, commented: 

These results represent another very positive year of progress and build on our consistent improvement over recent years. All five of the business areas through which we manage the Group saw an increase in revenues and our Outsourcing operations enjoyed a significant improvement in operating profits. The performance of the Group continues to benefit from its diversified business mix. We are again pleased to be able to declare an increased dividend payment for the year-end, which our strong financial performance enables us to do. Our performance over the last year means we continue to face the future with confidence.

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