11th Nov 2015 09:50
LONDON (Alliance News) - Testing, inspection and certification services company Exova Group PLC on Wednesday said its revenue for the first ten months of 2015 rose and affirmed its guidance for the full year.
Exova said revenue for the ten months to the end of October was up 7.5%, driven mostly by merger and acquisition activity. The group said its merger and acquisition pipeline remains strong and its outlook for 2015 is unchanged.
It said growth in Europe was robust, with strong performances in its health sciences and product and certification divisions in the half, which offset tougher trading for its oil and gas-focused businesses.
Americas revenue also progressed in the period, albeit with similar oil and gas headwinds, with good trading in its aerospace and transportation units. For the rest of its operations, growth has continued in the Middle East, with a good pipeline of contracts in place into 2016.
"I am pleased with our overall performance for the year to date. We have seen good growth in most of our sectors and are making very good progress with acquisitions," said Ian El-Mokadem, Exova's chief executive.
Exova shares were up 3.5% to 150.00 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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