3rd Feb 2014 11:16
LONDON (Alliance News) - Intellectual property advisory service provider Murgitroyd Group PLC Monday reported an increase in revenue and a slight uptick in profits for the six months to November 30 2013.
Murgitroyd reported a small 1% increase in its pretax profit of GBP2.28 million for the first-half of the year, compared with a pretax profit of GBP2.27 million for the same period a year earlier.
It said revenues rose 9% in the six months period to GBP19.2 million, up from GBP17.6 million the prior year. The group said the revenue increase was driven by continued growth in US markets, with revenue increasing by 33% in this region, to GBP6.1 million.
"Winning new business and, with it, increasing market share was particularly pleasing given the price pressure that continues in the market for professional IP advisory services," said Chairman Ian Murgitroyd in the group's half-year report.
The group maintained its interim dividend at 3.75 pence per share, although its basic earnings per share dipped slightly to 18.6 pence, from 18.7 pence.
Murgitroyd said it operated from 15 offices in eight countries worldwide during the period, and is now actively looking to recruit additional staff in various offices to support future growth.
"The Board is confident that Murgitroyd can continue to deliver long-term growth and value to shareholders. Current trading is in line with market expectations," said the group.
Murgitroyd Group's shares were down 0.4% at 645.00 pence per share before midday Monday.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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