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Gross profit up almost 6% YoY for Servoca

Servoca has released its preliminary unaudited results for the year ended 30th September 2017.

Revenue for the year was £80.2m (2016: £69.2m), an increase of 15.9% and gross profit increased by 5.9% to £19.7m (2016: £18.6m). Adjusted EBITDA of £4.4m (2016: £3.9m) increased 12.8%.

Adjusted profit before taxation was £3.9m (2016: £3.5m), an increase of 11.4% and profit before taxation remains unchanged from the prior year at £2.9m (2016: £2.9m).

Cash generated from operations before tax in the year was £2.7 million (2016: £2.3 million).

The group reported an adjusted basic EPS of 2.56p (2016: 2.25p), an increase of 13.8% and a dividend of 0.40p per share (2016: 0.35p), an increase of 14.3%.

Andy Church, CEO, commented, “These results represent another very positive year of progress and build on our consistent improvement over recent years. All five of the business areas through which we manage the Group saw an increase in revenues and our Outsourcing operations enjoyed a significant improvement in operating profits. The performance of the Group continues to benefit from its diversified business mix. We are again pleased to be able to declare an increased dividend payment for the year-end, which our strong financial performance enables us to do. Our performance over the last year means we continue to face the future with confidence.”

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