19th Jun 2015 10:10
LONDON (Alliance News) - AssetCo PLC Friday said it continues to trade in line with its expectations, as it posted a rise in pretax profit for its first half.
AssetCo provides management and resources for fire and rescue emergency services.
For the half year to end-March, the company posted a pretax profit of GBP1.5 million, up from GBP1.0 million a year before, on a rise in revenue to GBP10.4 million from GBP7.0 million.
The company attributed its increase in profitability to the increase in size of its contracts in the Middle East. During the half year it increased its headcount to 216 from 171.
AssetCo currently has cash of GBP13.4 million, it said, compared to GBP9.9 million a year before.
Shares in AssetCo were trading up 6.9% at 310.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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