9th Apr 2019 11:26
LONDON (Alliance News) - Anexo Group PLC on Tuesday said its annual profit in the first year as a listed firm dipped marginally, despite revenue surging 25%.
Anexo, a specialist integrated credit hire and legal services provider, was admitted to trading on AIM in June 2018.
For 2018, the company posted a pretax profit of GBP14.3 million from GBP14.6 million a year prior.
This was due to finance costs rising to GBP1.1 million from GBP492,000, and to share-based payment charges of GBP383,000 versus nothing a year prior.
Meanwhile, revenue rose 25% to GBP56.5 million from GBP45.3 million a year prior.
"We are delighted to report such a strong set of maiden final results which, as announced earlier in January 2019, are ahead of market expectations," Chair Alan Sellers said.
He added: "Anexo remains extremely well positioned to grow its market share and take advantage of the opportunities available to it. The Board views the current financial year with considerable optimism."
Following the firm's first period trading as a quoted group, Anexo proposed a final dividend of 1.5 pence per share.
Looking ahead, Anexo said that the outlook for 2019 is positive, and the board remains confident for the upcoming year.
Anexo shares were trading up 4.6% at 138.60p each on Tuesday morning.
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