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Sureserve first-half profit improves as sales rise 4.6%
StockMarketWire.com
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Compliance and energy services group Sureserve posted a rise in first-half profit amid an uptick in sales.
Pre-tax profit for the six months through March increased to £4.4 million, up from £2.6 million year-on-year, as revenue climbed 4.6% to £114.6 million.
Sureserve did not declare an interim dividend.
Looking forward, it said 99% of 2021 expected revenue was covered by its order book, worth £371.6 million, providing 'visibility of non-volatile revenue streams'.
'Our half-year performance provides a solid base from which our highly experienced team can grow the business,' interim chairman Robert Legget said.
'Although the immediate future still remains uncertain due to the pandemic, Sureserve has a substantial order book providing good levels of visibility of earnings, an established business model of recurrent revenues from our public sector client base and a strong balance sheet to support both organic and inorganic growth opportunities.'
'We therefore are cautiously optimistic about the future.'
Story provided by StockMarketWire.com
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