29th Apr 2019 09:40
LONDON (Alliance News) - Marlowe PLC on Monday said acquisitions and organic growth is expected to lead to a sharp rise in annual revenue.
Further, adjusted earnings before interest, taxes, depreciation and amortisation are guided to be slightly ahead of current market expectations.
Marlowe, which provides inspection, testing and compliance services to commercial properties, anticipates revenue for the year to March to total GBP130 million, versus GBP80.6 million recorded in its prior year.
Current 12-month run-rate revenue is around GBP150 million, the company said.
Adjusted Ebitda in its year ended March 2018 stood at GBP7.2 million.
Marlowe also said integrations of acquisitions made during the year are progressing well and its acquisition pipeline remains strong. The company completed eight acquisitions in the year and made one non-core divestment.
The company is slated to release its 2019 financial results on June 18. Shares were trading 3.1% higher at 430.04 pence each Monday.
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