Information  X 
Enter a valid email address

Marlowe issues H1 results, announces placing

By BFN News | 07:23 AM | Monday 12 December, 2016

Marlowe has posted an H1 pretax profit of £0.5m, on revenue of £17.7m. It also planned to raise about £10m to support its acquisition-led growth strategy. The placing will raise approximately £10m gross via the issue of 3.45m new shares at 290p each to certain existing and new investors. Commenting on the H1 results, CEO Alex Dacre said: "We made good strategic and operational progress in the first six months of our first year of trading as Marlowe plc. "We completed four acquisitions, and a further two since the period-end, providing us with a strong platform for growth in our initial target markets of fire protection, security systems and water treatment services. "The integration of these acquisitions is proceeding to plan and we have a well-developed pipeline of attractive opportunities to add further scale to Marlowe as we implement our strategy of building a leading UK support services group in complementary areas of critical asset maintenance. "The second half year has started well and we have revised our budget upwards to reflect recent trading and acquisitions. We are confident of making further progress through the second half of the year." Story provided by

a d v e r t i s e m e n t