Marlowe PLC Trading Update (2950X)
29 April 2019 - 4:00PM
UK Regulatory
TIDMMRL
RNS Number : 2950X
Marlowe PLC
29 April 2019
29 April 2019
Marlowe plc
("Marlowe" or the "Group")
Trading Update
Marlowe, the specialist services group focused on developing
companies which assure safety and regulatory compliance, provides
the following trading update for the financial year ended 31 March
2019.
Marlowe continued to make good progress in the period, with
significant growth in both revenues and profits. Revenue for the
financial year grew 62% to approximately GBP130m (2018: GBP80.6m)
reflecting the contribution from acquisitions and broad-based
organic growth across both our divisions. Current 12-month run-rate
revenues are approximately GBP150m. The Board expects Adjusted
EBITDA for the year ended 31 March 2019 to be slightly ahead of
current market expectations.
The Group's financial position is robust and underlying cash
generation, before acquisition-related investments, remains
strong.
The Group completed eight acquisitions in the year across all
the key disciplines within our two divisions and made one non-core
divestment. The integrations of all acquisitions made during the
year are progressing well and our acquisition pipeline remains
strong.
Marlowe is today hosting an investor event in London. No further
new material trading, financial or other information will be
disclosed during the event.
Marlowe intends to publish its full year results for the year
ended 31 March 2019 on 18 June 2019.
For further information:
Marlowe plc www.marloweplc.com
Alex Dacre, Chief Executive Tel: +44 (0) 203 841 6194
Mark Adams, Group Finance Director IR@marloweplc.com
Cenkos Securities plc (Nominated Adviser Tel: +44 (0)20 7397 8900
& Joint Broker)
Nicholas Wells
Ben Jeynes
Harry Hargreaves
Berenberg (Joint Broker) Tel: +44 (0) 20 3207 7800
Ben Wright
Mark Whitmore
FTI Consulting Tel: +44 (0)20 3727 1340
Nick Hasell
Alex Le May
About Marlowe
Marlowe is a UK leader in specialist services which assure the
safety and regulatory compliance of commercial properties, whilst
managing risk for businesses across the country. The company was
formed to create sustainable shareholder value through the
acquisition and development of businesses that provide regulated
inspection, testing and compliance services. It is focused on
health & safety, fire safety, security, water safety, water
treatment, air quality and environmental services - all of which
are vital to the wellbeing of its customers operations and are
invariably governed by regulation. Marlowe currently provides
services to over 10% of Britain's commercial properties and is
increasingly attractive to customers who require a single
outsourced, nationwide, provider of a comprehensive range of
regulated safety services. Our customers can be found in most
office complexes, high streets & leisure facilities,
manufacturing plants and industrial estates, and include SMEs,
local authorities, facilities management providers, multi-site NHS
trusts and FTSE 100 companies.
For further information, please visit www.marloweplc.com
The information communicated within this announcement was deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014 prior to the release of this
announcement. Upon the publication of this announcement, this
inside information is now considered to be in the public
domain.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
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