Andrews Sykes Delivers Record Operating Profit Despite Revenue Decline in 2024

PUBLISHED: May 07 2025 @ 03:02 | Comments (0) | More info about Fiona Craig

Andrews Sykes Group PLC (LSE:ASY) achieved record operating profit for the 2024 fiscal year, demonstrating strong financial discipline in the face of external headwinds. Despite a 3.6% decline in revenue—primarily due to unseasonably mild summer weather and adverse currency fluctuations—the company boosted operating profit by 2.0%, showcasing its effective cost management and resilient customer base.

Growth in the Middle East, particularly the company’s expansion into Saudi Arabia, has emerged as a key opportunity. These international gains helped offset weaker performance in Germany, where economic challenges impacted operations. Andrews Sykes remains confident in the strength of its core markets and is actively pursuing long-term growth initiatives.

Company Overview: Andrews Sykes Group PLC

Andrews Sykes is a leading provider of specialist climate control and pumping solutions, offering services such as heating, cooling, and fluid management across a range of sectors. With a solid footprint in the UK and Europe, the company is also expanding aggressively in the Middle East, leveraging long-standing customer relationships and a reputation for reliability.

Average Daily Trading Volume: 2,645
Technical Analysis Signal: Hold
Current Market Capitalization: £213.5 million

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ADVFN Premium Newsletter Round Up – Friday 25 November 2016 by Fiona Craig