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Marlowe reports higher adjusted earnings, revenue in H1
StockMarketWire.com
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Safety and compliance specialist Marlowe has reported increases in earnings and revenue for the six months to the end of September 2020.
Its half-year results statement, published this morning, showed revenues of £83.3 million, up 7% on the same period in 2019 when adjusting for the impact of non-core activities disposed of in March 2020.
Earnings before interest, taxes, depreciation, and amortisation rose to £11.5 million, compared to £9.9 million in the first half of the company's 2019-20 financial year.
Marlowe also slashed its net debt position to £1.6 million as of 30 September 2020, excluding IFRS 16 lease liabilities, down from £19.6 million a year earlier.
Chief executive Alex Dacre said: 'Despite the challenges presented by COVID-19, we have continued to implement our strategy at pace. Our business model has demonstrated its defensive qualities and we made strong operational progress in the period, with significant margin expansion, the successful execution of integration programmes and enhanced cash generation.'
At 8:38am: (LON:MRL) Marlowe PLC share price was 0p at 535p
Story provided by StockMarketWire.com
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