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Marlowe upgrades guidance; targets adjusted earnings of £100m over three years
StockMarketWire.com
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Safety-related business investor Marlowe upgraded its annual guidance and said it was targeting adjusted operating earnings of £100 million and revenue of £500 million over the next three years.
Trading in the second half of the 2021 financial year remained strong, with earnings before interest, tax, depreciation and amortisation expected at the top end of market expectations of £23.6 million to £26.3 million.
Run-rate revenue was currently £245 million and run-rate adjusted earnings before interest, tax, depreciation and amortisation was currently £37 million.
Marlowe also said it was setting a new medium-term adjusted divisional EBITDA margin target of 20%, up from the previous 15% target, which it aimed to achieve in the next three years.
Run-rate adjusted divisional EBITDA margin was currently around 16%.
At 9:16am: (LON:MRL) Marlowe PLC share price was 0p at 535p
Story provided by StockMarketWire.com
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