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Servoca announces 49m revenue for year end

•     Revenue &pound49.0 million (2013: &pound43.1 million), an increase of 13.7%

•     Gross profit &pound14.2 million (2013: &pound12.3 million), an increase of 15.4%

•     Administrative expenses (excluding amortisation and share based payments) &pound12.4 million (2013: &pound11.4 million)

•     Doubling of profit before taxation (excluding amortisation and share based payments) to &pound1.7 million (2013: &pound0.8 million)

•     Net debt reduced to &pound2.6m (2013: &pound3.1m)

•     Basic EPS of 1.08p before amortisation and share based payments increased by 93% (2013: 0.56p)

 

Commenting on the results, CEO Andy Church says:

"We are delighted with the progress made by the Group with substantial growth helping to more than double pre-tax profits. We continue to see improvements to both trading conditions and internal capabilities across some of our key markets and look well placed to build on this progress".

 

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