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Servoca Shares Up 20%

Servoca Shares Up 20%

Shares in SERVOCA Plc have jumped 20% as the specialist provider of Public Sector Resourcing and Outsourced services has issued its results for the six months ended 31 March 2009. Revenue up 83% to 30.1 m (March 2008 16.46m) Gross Profit up 67% to 8.46 m (March 2008 5.07m) and Profit before taxation of 0.86 m (March 2008 0.36m loss).

Andrew Church, Chief Executive, commented: Turnover, gross profit and profit before tax are all ahead of Board expectations and the Group has made a solid start to the year. The Group completed a substantial restructuring and cost reduction exercise during the period and the results for the first half reflect the impact of this exercise.

Current trading remains positive and the performance of the Group in the first half gives the Board confidence for the full year.

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