Servoca sees 25% gross profit increase
· Revenue £28.12m (2014: £22.39m), an increase of 25.6%
· Gross profit £7.84m (2014: £6.28m), an increase of 24.8%
· Profit before taxation* up 150% to £1.03m (2014: £0.41m)
· Strong growth in recruitment operations with Education and Healthcare businesses continuing to perform exceptionally well
· Net Debt reduced to £1.60m (March 2014: £2.91m, September 2014: £2.63m), a reduction of 45%
· Basic EPS of 0.66p* (2014: 0.28p), an increase of 136%
* before amortisation and share based payments
Andy Church, CEO, commented, "As indicated in our recent trading update, the Group has experienced a great start to the year with results significantly ahead of the same period last year. Strong sales growth has helped to increase pre-tax profits by over 150% and the business is well positioned for continued progress.
"Our Education and Healthcare recruitment operations have performed exceptionally well and carry good momentum into the second half of the year. Trading conditions across these key markets continue to remain positive and full year profitability is once again expected to significantly benefit from the pivotal September period for our Education businesses."