Marlowe PLC Half Year Trading Update (1330U)
October 20 2017 - 1:00AM
UK Regulatory
TIDMMRL
RNS Number : 1330U
Marlowe PLC
20 October 2017
20 October 2017
Marlowe plc
Half Year Trading Update
Marlowe plc ("Marlowe" or "the Group"), the support services
group focused on acquiring and developing companies that provide
critical asset maintenance services, today issues a trading update
for the six months ended 30 September 2017.
Trading in the first six months of the financial year was in
line with our expectations.
Both divisions, Fire Protection & Security and Water
Treatment & Air Hygiene performed well, with the integration of
the four acquisitions completed in the period proceeding to plan
and synergies in line with those anticipated on acquisition. The
Group continues to benefit from increased awareness of the
requirement for the high standard of maintenance that is needed to
comply with health & safety laws and regulations, along with a
focus on cross-selling across our business streams.
The acquisition of Ductclean UK, which added the complementary
activity of Air Hygiene to the Group, was completed in July, and
the business has traded well following acquisition.
Net cash at 30 September is expected to be in the region of
GBP3.1m and the Group remains well positioned to continue its
acquisition-led growth strategy.
The Group's Interim Results will be released on 11 December
2017.
For further information please contact:
Marlowe plc www.marloweplc.com
Alex Dacre, Chief Executive Tel: +44 (0) 203
813 8498
IR@marloweplc.com
Cenkos Securities plc (Nominated
Adviser and Broker)
Nicholas Wells Tel: +44 (0)20
7397 8900
Elizabeth Bowman
FTI Consulting
Nick Hasell Tel: +44 (0)20
3727 1340
Alex Le May
About Marlowe plc
Marlowe is an AIM-listed company formed to create sustainable
shareholder value through the acquisition and development of
businesses that provide critical asset maintenance services in the
UK. It is focused on fire protection, security systems, water
treatment and air hygiene services - which are essential to its
customers' operations and invariably governed by regulation, and
where customers require a single specialist outsourced provider
with nationwide coverage. Our customers can be found on most high
streets, in office complexes and industrial estates, and include
SMEs, local authorities, facilities management providers,
multi-site NHS trusts and FTSE 100 companies.
This information is provided by RNS
The company news service from the London Stock Exchange
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