The Servelec Group is a UK-based technology group, with significant intellectual property, providing software, hardware and services predominantly to the UK healthcare, oil & gas, nuclear, power, utilities and broadcast sectors.


The Servelec Group’s business was founded in 1977 and, since October 2000, has been wholly-owned by CSE Global, a company whose shares are traded on the main board of the Singapore Stock Exchange. Servelec has a strong technology and engineering heritage and today employs a highly skilled and knowledgeable workforce of approximately 500 full-time staff operating predominantly from offices around the UK. The majority of these staff are based at the Group’s purpose built offices in Sheffield, one of which functions as the Group’s headquarters.

The origins of the Group’s business were in the design and manufacture of control systems for the Sheffield steel industry. Since that time, Servelec has grown both organically and by acquisition and now operates two divisions: Servelec Healthcare and Servelec Automation.

Servelec Healthcare specialises in the design, development and implementation of Electronic Patient Record ("EPR") software within secondary care settings and is a market leader in the Mental Health and Community Health sectors in England.


Servelec Automation provides complex, mission-critical control systems to large, blue-chip, companies mainly in the UK. Servelec Automation provides the whole lifecycle of services from consultancy, through to design, implementation, delivery, installation and on-going customer support and maintenance.


http://www.servelec-group.com/index.html

Post Year End Trading Statement

RNS


RNS Number : 6533X

Servelec Group plc

15 January 2014




15 January 2014



Servelec Group plc



Post Year End Trading Up-date



Following the successful listing on the main market of the London Stock Exchange on Monday 2 December, Servelec Group plc ("Servelec"), today announces a trading up-date for the year ended 31 December 2013.



Since the listing, Servelec has continued the good progress it made through 2013 and the full-year results will be in line with the Board's expectations.



Sales activity in Healthcare is increasing and Servelec has been awarded the first two Trust wins as part of the on-going Camden (London and the South) re-fresh programme. With regards to Servelec Automation, across both Controls and Technologies, the anticipated shift from the design stage to the pricing stage for our products and services with a number of our customers continues to progress in line with our expectations.



Following the acquisition of Semaphore in October 2013, the integration programme is progressing well and we are delighted to have recruited Andrew Sullivan from Ultra Electronics as Managing Director of Servelec Technologies to further assist this process.



Alan Stubbs, Chief Executive, commented: "Following our successful listing, we are pleased that our strong performance has continued to deliver a full-year performance in line with the Board's expectations. The outlook for the structural and regulatory growth drivers across our markets remains encouraging and we are looking forward to capitalising on these exciting opportunities as a listed company."



Preliminary results for the year ended 31 December 2013 will be announced on 12 March 2014.

Servelec Healthcare Contract Wins

RNS


RNS Number : 1599A

Servelec Group plc

17 February 2014




17 February 2014

Servelec Group plc



Servelec Healthcare contract wins



Servelec Group plc ("Servelec") today announces that its Healthcare division has started 2014 with strong continued progress in contract wins.



Servelec Healthcare has been awarded another preferred supplier status under the London Framework for Mental Health and Community. This means that it has now won three contracts out of three in the Application Lot 1, as well as two wins in Hosting Lot 2.



In addition, in January, Servelec Healthcare took a Portsmouth Hospitals NHS Trust live with its Oceano Emergency Department Solution. The delivery was the quickest installation to date by Servelec Healthcare with the project commencing late 2013 and was achieved in the most challenging winter period that A&E departments have seen for some time. The company's Oceano customers are growing and this new live installation brings the total deployments of this innovative product to three new sites.



Servelec's activity and presence in the Community Health sector has also strengthened with a Community win in the North of England for a Spine-connected Community hospital deployment which went live at the beginning of the year.



Alan Stubbs, Chief Executive Officer, commented:



"We are excited about the start that Servelec Healthcare has made to the year, three out of three in the London Refresh, together with two successful go-lives. It is an illustration that our healthcare division has the right product portfolio, market position, route to market and delivery capability to capitalise on the growth opportunities ahead."



Preliminary results for the year ended 31 December 2013 will be announced on 12 March 2014.

Big move up again today in a weaker market, small cap inclusion next few weeks?!

Naked trader today - I also bought some more Servelec (LON:SERV). I bought quite a few in December at 212 and it has already served up profits of more than 25%. I've been attracted in to buy more, it was moving up in a down market yesterday so I added this time getting another lot at 266 yesterday .

The market really seems to like this one and it continues to have great prospects for a rise up to and above 300.

Final year results - 31 December 13

OPERATIONAL HIGHLIGHTS



· Successful Initial Public Offering (IPO) on the main market of the London Stock Exchange completed on 2 December 2013

· Strong cash generation through the year

o £6.5 million dividend returned to CSE Global Limited of Singapore prior to the Group's IPO

o IPO completed with cash balances of circa £5.0 million

· Important product innovation, development and roll-out

o Servelec Healthcare: successful delivery of major software update of RiO

o Servelec Technologies: launch of new RTU products

· Corporate development: key acquisitions successfully completed and integrated

o February 2013: Tynemarch Systems acquired, which delivers real time optimisation for Servelec's Automation division

o October 2013: acquisition of Semaphore which adds two RTU brands and a worldwide distributor network for RTU sales

o December 2013: disposal of non-core Slovakian division, CSE Controls sro.




http://www.moneyam.com/action/news/showArticle?id=4770985

Servelec Healthcare Appointed Preferred Bidder

RNS


RNS Number : 7755D

Servelec Group plc

02 April 2014




2 April 2014

Servelec Group plc ("Servelec")



Servelec Healthcare Appointed Preferred Bidder Status by Two NHS Trusts



The Board of Servelec is delighted to announce that Servelec Healthcare has been notified of the award of preferred bidder status for the next two NHS Trusts to announce their choice of software provider for Mental Health or Community Health services under the Camden framework.



One of these two Trusts has also selected Servelec Healthcare to provide hosting services for RiO V7 making a total of three so far.



Servelec Healthcare has now been chosen by the first five NHS Trusts which have selected their preferred supplier using the Camden Framework.



The Camden Framework is the main mechanism by which Trusts currently running RiO under the BT LSP contract can exit from the National Programme in London and the South of England, providing each organisation with the ability to choose their supplier.



Alan Stubbs, CEO of Servelec commented that "we are very pleased that Trusts are seeing the benefit of staying with Servelec Healthcare and their future with RiO V7."

Portsmouth A&E Department live with Oceano ED

RNS


RNS Number : 1019G

Servelec Group plc

02 May 2014










Portsmouth A&E Department live with Oceano ED

Following open procurement, Portsmouth Hospitals NHS Trust awarded Servelec Healthcare Limited a 5 year contract to deliver Oceano ED to support and help the A&E department run more efficiently reducing paperwork and streamlining business processes for clinicians.

Portsmouth Hospitals NHS Trust has now gone live with Oceano, just 4 months after signing the contract and during the, often problematic, winter period. Subsequent phases will follow including the integration of Oceano with other Emergency Department systems.

Oceano will replace the time intensive manual processes enabling the Trust to ultimately go paperless within the department and improve patient care.

Consultant in Emergency Medicine, Dr Eliot Wilkinson from Portsmouth Hospitals NHS Trust said:

"PHT are excited to be working in partnership with Servelec taking modern Emergency Care forward ensuring safe and quality care to our patients".

Lindsay Dransfield Servelec Healthcare's Sales Director comments:

"We are delighted that Portsmouth chose Oceano ED. We have worked closely with the Trust during the rapid go live and together with the Trust we have worked through a challenging deployment delivering on time and budget".

About Portsmouth Hospitals NHS Trust



As one of the largest NHS trusts in the country, we provide acute and specialist services for almost a million people throughout Portsmouth and South East Hampshire, employing c7,000 staff and generating an annual income in excess of £446m. We continue to build our reputation for innovation and excellence, consistently delivering outstanding performance, whilst developing the skills and abilities of our staff as we go.



About Servelec Healthcare Limited



Servelec Healthcare Limited provides Patient Centric EPR solutions to Secondary Care. The Oceano solution is developed collaboratively with customers and this is reflected in the rich functionality and complementary functions that support Trusts in delivering their services irrespective of location supporting the exchange of patient data and information between care settings. Provided proven interoperability within Secondary Care and between Primary Care & Social Care.

Interim Management Statement

RNS


RNS Number : 0133H

Servelec Group plc

14 May 2014




14 May 2014



Servelec Group plc



Group continues to perform well; trading in-line with expectations, outlook remains positive



The Board of Servelec Group plc ("Servelec") is pleased to publish its interim management statement for the three months to 31 March 2014.



Group



Both the Healthcare and Automation divisions continue to trade in-line with market expectations.



Healthcare



Servelec Healthcare has enjoyed healthy trading during the period. We have been nominated as preferred bidder on the majority of the projects which have been announced across London & the South of England and also in the North. We continue to invest in our products and are seeing positive signs of early adoption of RiO v7 which will be going live in the first of the "Camden Trusts" during the third quarter of this year.



The levels of order entry in Healthcare are in-line with expectations and we are confident that our best-in-class products combined with our very strong market position means the healthcare business will continue the positive momentum.



Automation



Our business continues to trade in-line with market expectations. There has been a slight delay with a small number of the large Oil & Gas and Power capital projects with which we are involved, but those orders are still expected to come through in this financial year. These delays being offset by further consultancy work and a strong performance from Servelec Technologies. We remain very confident about the long term growth drivers, with the outlook for order entry improving.



Financial position



The company continues to be in a strong financial position with increased cash reserves as the roll out of RiO (R2) in London and the South releases the WIP which had accrued under the NPfIT contract.



Alan Stubbs, CEO of Servelec Group, said: "We are pleased with the continued progress and momentum we have shown. The Healthcare division and our Automation division have both performed in accordance with our expectation illustrating the quality of our product offering and strong market position."

Servelec Healthcare Two more wins

RNS


RNS Number : 5167H

Servelec Group plc

20 May 2014




20 May 2014

Servelec Group plc ("Servelec")



Servelec Healthcare

Preferred Supplier Status for Further NHS Trusts



The Board of Servelec is delighted to announce that Servelec Healthcare has been notified of the award of preferred supplier status for two NHS Trusts to announce their choice of software provider for Mental Health or Community Health services under the Camden framework.



Servelec Healthcare has now been chosen by seven out of eight of the NHS Trusts which have selected their preferred supplier using the Camden Framework.



The Camden Framework is the main mechanism by which Trusts currently running RiO under the British Telecom Local Service Provider contract can exit from the National Programme in London and the South of England, providing each organisation with the ability to choose their supplier.



Alan Stubbs, CEO of Servelec, commented: "We are delighted to be seeing Trusts selecting RiO V7 earlier than anticipated which underpins our confidence in both the capability of our products and our ability to continue to win further contracts under the Camden Framework and elsewhere".

Servelec Group - Project Wins

RNS


RNS Number : 1578I

Servelec Group plc

28 May 2014




28 May 2014

Servelec Group plc



Group Project Wins





The Board of Servelec is delighted to announce important project wins for Servelec Controls ('Controls') a part of Servelec Automation, and Servelec Healthcare.



Servelec Controls has been awarded a significant project, valued at over £1m, to provide an updated Production Control System (PCS) for a Combined Heat and Power ("CHP") Plant that is to be relocated from the UK to Turkey. The project, which involves the replacement of the control system hardware and software with a modern equivalent, will be implemented in the UK during 2014 followed by a Time and Materials contract for the on-site commissioning as the CHP plant re-starts.



Servelec Healthcare has been notified of the award of preferred supplier status for the latest NHS Trust to announce their choice of software provider for Mental Health or Community Health services under the Camden Framework.



Servelec Healthcare has now been chosen by eight out of nine of the NHS Trusts which have selected their preferred supplier using the Camden Framework.



The Camden Framework is the main mechanism by which Trusts currently running RiO under the British Telecom Local Service Provider ("BT LSP") contract can exit from the National Programme in London and the South of England, thereby providing each organisation with the ability to choose their own, ongoing supplier before the end of the BT LSP contract in October 2015.



Alan Stubbs, CEO of Servelec Group, commented: "We are delighted with the project win for Servelec Controls especially given that we had recently flagged the slight delay in a small number of contract awards. It is also very pleasing to see the continuing success of Servelec Healthcare in securing preferred supplier status with a further NHS Trust. Our teams are working hard and we are seeing the results of those efforts."

Servelec Healthcare wins two projects in the North

RNS


RNS Number : 4061J

Servelec Group plc

12 June 2014




12 June 2014

Servelec Group plc ("Servelec")



Servelec Healthcare wins two projects in the North of England



The Board of Servelec is delighted to announce important project wins for its healthcare division. Servelec Healthcare has been awarded preferred bidder status for the most recent two Mental Health and Community Trusts from the North of England to select their chosen provider.



The North of England Trusts were not previously customers of Servelec Healthcare and therefore represent a significant growth opportunity for the Group, known within Servelec as "North New".



These two projects have both been won in open competition where RiO, the Servelec Healthcare product, wasn't the incumbent system. Both wins demonstrate the strength and quality of the RiO product.



Servelec Healthcare, with its RiO product, has now won nine out of the last ten Trusts outside of the National Programme refresh who have selected a new system in open competition.



Alan Stubbs, CEO of Servelec Group, commented: "We are delighted with the project wins for Servelec Healthcare. We have clearly demonstrated that in open competition RiO is competitive, delivering a functionally rich Electronic Patient Record (EPR) that meets the needs of our clients".

Trading Statement

RNS


RNS Number : 5312M

Servelec Group plc

17 July 2014




17 July 2014

Servelec Group plc ("Servelec")



Trading Update



The Board of Servelec Group plc ("Servelec") is pleased to publish an update on trading for the six months ended 30 June 2014.

Servelec has continued its positive progress over the financial period, is trading in line with expectations and has had notable successes by:

· being chosen as preferred supplier for a total of ten NHS Trusts for the provision of Mental Health or Community Health services under the Camden Framework.

· being awarded preferred bidder status for two Mental Health and Community Trusts from the North of England that have announced this year.

· continuing to build the order bank in Automation with a further four significant contract wins, totalling £3 million.

· creating a strong financial position with a cash balance of over £14 million as at
30 June 2014.



The building momentum in our Automation business together with our continuing success in the Healthcare software market supports our confidence for the full year.



The Board of Servelec Group plc ("Servelec") is pleased to announce that its half year results will be published on 28 August 2014.

Servelec Controls - Four Major Project Wins

RNS


RNS Number : 7203M

Servelec Group plc

21 July 2014




21 July 2014

Servelec Group plc ("Servelec")



Servelec Controls

Four Major Project Wins for Servelec Controls



The Board of Servelec is delighted to announce that Servelec Controls is involved in four major projects, worth in excess of £3million.

The first is the installation of a dry fuel store monitoring system in a UK nuclear power station that will help increase the lifetime of the plant by a further 20 years. The scope of work for Servelec Controls includes the design, manufacture and site installation of the system that will primarily monitor the temperature of Multi-Purpose Canisters (MPC's).

The second is the replacement of sootblower controls at one of the UK's largest coal-fired power stations. Sootblowers remove soot from boilers to ensure they operate at maximum efficiency and Servelec have been selected to replace the existing obsolete Allen Bradley controls with Rockwell ControlLogix PLC's.

Servelec Controls oil & gas division has won a significant contract that requires the design and installation of modifications to the Process Controls System of a power station as well as new Fire & Gas and Emergency Shut-Down systems. The modifications are required to remove the use of Freon R-22, an Ozone Depleting Substance, to help the plant comply with the Montreal Protocol on Substances that Deplete the Ozone Layer.

Finally, Servelec Controls will be involved in a unique project that will see the relocation of an entire power plant from the UK to the Middle East. Once the CHP power plant has been deconstructed, transported and rebuilt, Servelec Controls will design, construct and install a site-wide Distributed Control System (DCS), design and fit out new Local Equipment Rooms (LER's) and provide technical proposals for the migration of existing Fire & Gas and Emergency Shut-Down Systems.

Servelec Controls is part of Servelec Automation, a fully-owned subsidiary of Servelec Group plc. The Servelec Group is a UK-based technology group, providing software, hardware and services predominantly to the UK healthcare, oil & gas, nuclear, power, utilities and broadcast sectors.

Half Year Report

Servelec Group plc

Half year results for the six months to 30 June 2014



Growth continues across the Group, with the Board positive about the outlook for the full year.



http://www.moneyam.com/action/news/showArticle?id=4875285

Servelec Group: Investec ups target price from 310p to 355p maintaining a buy recommendation.

Servelec Healthcare announces four new wins

RNS


RNS Number : 4048W

Servelec Group plc

07 November 2014




07 November 2014





Servelec Group plc

("Servelec")



Servelec Healthcare named as preferred supplier for a further four Trusts in the 'London Refresh'



The Board of Servelec is pleased to announce that Servelec Healthcare has been awarded preferred supplier status for a further four Trusts as part of the London Refresh of the National programme for IT, bringing our successful bids to date to a total of seventeen.



This follows a major milestone achieved in July when the first Trust to take Open (non-BT version) RiO as part of the London Refresh, West London Mental Health Trust, went live on time and on budget.



The Board remains confident in Servelec Healthcare's ability to build on this success with the Northern Refresh throughout 2015.

Q3 2014 Trading Statement

RNS


RNS Number : 6456W

Servelec Group plc

11 November 2014




11 November 2014



Servelec Group plc



Servelec Group plc continues to perform in-line with expectations for the full year with a positive outlook for 2015



The Board of Servelec Group plc ("Servelec" or the "Company") is pleased to publish a trading update for the nine months to 30 September 2014.



Group



The Group continues to perform in-line with market expectations for the full year in terms of revenue, profit and cash generation.



Healthcare



Servelec Healthcare enjoyed healthy trading during the period and have now been awarded preferred bidder status on a total of seventeen Trusts as part of the London Refresh. We continue to see these convert to order entry. The first Trust to take Open RiO (non-BT version) as part of the London Refresh, West London Mental Health Trust, went live on time and on budget in July. Additionally we are experiencing a better than expected take up of our hosting option.



During the fourth quarter there will be increased activity in relation to the Northern Renewal Programme and Acute market and we anticipate the outcomes of these tenders to be start reaching preferred bidder status during 2015.



Automation



The integration of the Tynemarch and Semaphore businesses into our Technologies division is on plan and we realised improved performance from Semaphore during the period, contributing to an overall improvement in net margin. We are strengthening our sales force in order to maximise the opportunities from our increasing pipeline of business.



We are very confident about the long term growth drivers in the Automation market and are currently seeing a growing pipeline with further orders anticipated in the final quarter. Pilots within the UK water industry are performing well, giving increased assurance to our Technologies business and we continue to progress opportunities with the oil and gas industry for the application of our expertise to extend the life of North Sea assets.



Financial position



The Company is in a strong financial position with significant increases in orders against the corresponding Q3 YTD position in the prior year and strong cash conversion. Outlook for the full year is consistent with market expectations in terms of revenue, profit and cash generation.



Alan Stubbs, CEO of Servelec Group, said: "A solid performance in the third quarter places us well to reach full year 2014 targets and demonstrates the consistency of our business, based on quality product offerings and the strong positions we have in each of our chosen markets.



The wins we continue to achieve and the integration work we have undertaken in 2014 create a strong foundation for growth in future years. This will enable us to capitalise on opportunities in front of both of our divisions' pushing into new areas such as the Acute health market, and developing opportunities through our global distribution network in Automation."

Servelec Group announces acquisition of Corelogic

RNS


RNS Number : 7126Z

Servelec Group plc

15 December 2014




15 December 2014

Servelec Group plc announces £23.5 million acquisition of Corelogic

Servelec Group plc, is pleased to announce the acquisition of the entire issued share capital of Corelogic Limited ("Corelogic" or the "Company") (the "Acquisition"). Corelogic is a high growth, UK market-leading provider of next generation adult and children's social care case management software, together with associated financial management modules.

Details of the Acquisition

The Acquisition is expected to be earnings enhancing in the first full year of ownership and the board of Servelec is confident in the market growth opportunities for the business.

The aggregate purchase consideration of £23,489,500 comprises:

· £14,489,500 in cash from internal balances held by Servelec Group

· £6,000,000 in Servelec loan notes payable in two tranches within 7 months attracting interest at 2% per annum

· £3,000,000 in Servelec shares based on the 5-day trading price of 283 pence resulting in 1,061,665 shares being issued which are to be held by Corelogic senior management and remain subject to a lock-in period of 12 months

Corelogic overview

The Acquisition is an excellent fit with the Servelec Group strategy to drive market share growth in existing areas and to expand into adjacent, complementary markets. The addition of Corelogic strongly positions Servelec to address the health and social care interoperability agenda and to offer a fully integrated solution as the market moves towards the Government's commitment to Converged Care for patients. Corelogic provides Servelec with a deep presence in the key social care market and its unique product set complements Servelec's existing RiO offering and market position in mental health and community trusts.

Primarily based in London and Edinburgh, with a development centre in India and an office in Australia, Corelogic has grown rapidly since it began trading in 1999. For the year ended 31st August 2014, Corelogic's latest audited financial statements show record year end results, with reported profit before tax of £1.4m, up over 40% year on year, revenue of £9.6m, up 25% and gross assets of £6.6m. The company has developed a modern, flexible and comprehensive social care software system which is unique in that it offers all three system components, namely, adult, child and finance in a single package ("Mosaic") together with an integrated, flexible reporting suite ("Corius").

In total, Corelogic has 75,000 end users and its products are used by 58 customers worldwide. Within the UK, the company already has over 20% market share in social care and is used by over 50% of Local Authorities in London. Corelogic is continuing to grow this market share year on year and in the financial year ending 31st August 2014 it won 9 out of 11 UK social care case management public tenders for which it competed, with key factors in its success being the quality of the product and strong market knowledge of the management team.

The Acquisition means that Servelec now has a strong position in both the health and the social care markets which is expected to be increasingly vital as ICT legislation and policy focuses on the integration of Local Authority and NHS site services.

Corelogic is currently owned by founders Kevin Moorhouse (65%), Iain Clark (29%) and a number of additional individual shareholders. Following the Acquisition, Kevin Moorhouse will continue as an Executive Director to facilitate an effective integration into the Servelec Group. Iain Clark, who currently holds a non-operational role, will cease to be involved with the company.

Alan Stubbs, CEO of Servelec Group said:

"I am delighted to welcome Corelogic to the Servelec Group. This acquisition provides us with opportunities to add good incremental value to the overall business and positions Servelec well to meet the Government's objective for 'Converged Care' by packaging Mosaic and Corius alongside Servelec's existing product portfolio. This purchase fits perfectly with our strategy of acquiring IP, market share and expanding into adjacent business sectors. We look forward to working with the management team to capitalise on the exciting growth opportunities ahead."

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Shares -


Servelec rolls acquisition dice


Sheffield head-quartered Servelec (SERV) has made what looks like a strategically astute first foray into the acquisitions space with today’s purchase of social care software supplier Corelogic. Against a backcloth of converging social, community and mental health care across the NHS, the logic stacks up and investors seem to be coming to the same conclusion after a lukewarm early response, the shares rising 2.75% to 289.75p, their highest level since April.

The NHS is currently facing the double-edged sword of an unprecedented funding squeeze and increasing demand for its services. With an increasingly ageing population, plus rising numbers having to manage long-term and chronic conditions, technology is being increasingly embraced to do much of the heavy-lifting, throwing up plenty of opportunities for IT suppliers, Servelec among them.

‘Core system modernisation and investment initiatives are acting as key enablers for the healthcare economy’s overall drive to build a more connected and integrated service, both within and across acute, mental health & community and primary care settings,’ analysts at IT consultancy Megabuyte spelled out in a recent study. In the view of Megabuyte’s experts, ‘barriers can be broken down between the care provider and the patient, using web-based solutions.’

Servelec may have only been on AIM barely a year (it IPO’d at 179p 2 Dec’13) but it has a trading track record stretching back to the late 1970s. The company its is buying, Corelogic, has a similarly long history. Founded back in 1999, the Edinburgh-based company has 75,000 end users across 58 customers worldwide, with a UK market share put at around 20% in social care. Apparently, it is used by over 50% of Local Authorities in London, which will build of Servelec’s own strong south-east position.

Analysts at Investec like the deal, saying it will allow Servelec ‘to cater to the Government’s converged care agenda of merging Social, Community and Mental care.’ According to Servelec, Corelogic won nine out of the 11 UK social care case management public tender contracts for which it competed in the year to August.

Corelogic’s financial figures look robust too, increasing revenues by 25% to £9.6 million on which it turned in a 40% hike in pre0tax profit to £1.4 million. Assuming that earnings before, interest, tax, depreciation and amortisation (EBITDA) was up by the same proportion, the £23.5 million asking price implies 12.6-times trailing EV/EBITDA, according to Magebuyte’s analysis. That’s no bargain but it goes to show that using technology and software to create the joined-up NHS politicians and the public seem to want is a hot spot for investment, for businesses and private investors alike.

Post year end trading update
RNS
RNS Number : 5531C
Servelec Group plc
20 January 2015

20 January 2015

Servelec Group PLC

("Servelec" or the "Company")

Post year end trading update





The Board of Servelec Group plc is pleased to announce a trading update for the year ended 31 December 2014.

Group

Servelec has continued the good progress and momentum it has reported to date, and the full year results will be in line with the market's expectations.

Healthcare

The Healthcare division saw a continuation of the positive tender activity reported earlier in the year. Our success rate in the London refresh was excellent and is a testament to the strength of the RiO product suite and Servelec's ability to deliver to and support our direct customers. At the end of 2014 we had won 17 tenders in the London refresh, and a further three tenders in other parts of the country, creating a strong order book for 2015.

The integration of Corelogic, which we acquired in December 2014, has commenced and we are pleased with how this is progressing. Corelogic joins our Healthcare Division, now renamed Health & Social Care and supports our Group strategy of driving market share growth in our existing areas while looking to expand into adjacent, complementary markets. We welcome Kevin Moorhouse, Executive Director of Corelogic, to our senior management team.

Automation

We are further strengthening our senior management team in Controls to drive growth in the Power sector. Alex Moore will be joining in February 2015, as Managing Director of our Power business, from Nuclear Engineering Services and previously, Capula. This change will enable Kevan Jones and his team to concentrate on the changing Oil & Gas market as the falling price of oil enhances the need for further cost reduction programmes provided by increased automation.

In Technologies, the integration of Semaphore, acquired in October 2013, has progressed very well, leading to significant contribution in the year. In the UK, we are positioned ready for the next water industry spending programme (Asset Management Period 6) which begins in April, following a number of successful pilots run with existing customers. Outside the UK, our productised offering is gaining traction through our global distribution network.

Alan Stubbs, Chief Executive, commented,

"We are delighted to have completed our first full year of trading in line with market expectations for the business. The Group has produced a good financial performance in its maiden year as a listed business and made important operational strides forward.

The outlook for our markets remains encouraging and we start 2015 with a clear strategy for growth. The recent acquisition of Corelogic delivers new potential for our Health & Social Care division, with our market leading positions in Mental and Community Health and Social Care providing us with a strong position from which to deliver integrated solutions that match market demand.

The Board is also confident about the scale of the opportunities for the Automation division and the further strengthening of our senior management team in this division will enable us to target new opportunities, both at home and internationally, maximising opportunities provided by our global distribution network."

The Company anticipates releasing its preliminary results for the year ended 31 December 2014 on 11 March 2015.

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20 Jan Investec 363.00 Buy

Naked Trader today - Servelec's post year-end statement was confident and bullish and all seems on track so see no reason why not to hold it for as long as possible for gains. It also has to be on a potential bid list