27th Feb 2015 09:34
LONDON (Alliance News) - Management Resource Solutions PLC said Friday it has had a good start to its second half and is continuing to trade in line with its expectations, as it posted a rise in pretax profit in its first half, its first results since listing on AIM last December.
The company proposed a maiden interim dividend of 0.35 pence.
The human resource consultancy firm posted a pretax profit of AUD491,000 for the half year to end December, up from AUD158 million a year before, as revenue rose to AUD11.4 million from AUD5.0 million, although this was partly offset by higher cost of sales, and AUD798,000 in costs related to its listing on AIM.
The company said that despite the disruption of the listing process it saw "excellent growth" in its first half, and cited good progress with its first major energy performance certificate contract in Papua New Guinea. The company said that project is set to complete in mid 2015, and forms part of its larger expansion and diversification strategy.
"We have had a good start to the second half of the financial year and continue to trade in line with management expectations. Going forward, our recent listing will allow us to capitalise on additional opportunities for both organic and acquisitive growth," said Chief Executive Officer Paul Morffew in a statement.
Shares in Management Resource Solutions are trading 15.7% at 17.35 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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