27th Nov 2018 12:28
LONDON (Alliance News) - HML Holdings PLC said Tuesday its pretax profit grew in the first half if its year due to a strong improvement in fee income from health and safety inspections.
For the six months ended September 30, the property management firm posted a GBP756,000 pretax profit, up 11% from GBP683,000 the year before.
Revenue increased 7% to GBP13.6 million from GBP12.7 million, with a rise in health and safety inspection fee income offsetting a drop in pre-contract enquiry fees on property sales.
During the period, HML said it has continued the reorganisation of its back office in West Croydon and will proceed in the second half of its year with the streamlining of its systems into a single database platform.
"This is an encouraging set of results for the first half of the year, especially when considered against the backdrop of an uncertain UK property market. To have recorded record half year earnings while we implement significant operational changes demonstrates that we are moving in the right direction," said HML Chief Executive Robert Plumb.
Shares in HML were untraded on Tuesday at 30.50 pence.
Related Shares:
HMLH.L