1st Feb 2016 10:12
LONDON (Alliance News) - Murgitroyd Group PLC said on Monday it had traded in line with market expectations for the six-month period ended November 30, as strong revenue growth in the US offset weaker demand in Europe.
The patent and trade mark attorney group said said its pretax profit for the half increased 6.6% to GBP2.1 million, from GBP2.0 million a year earlier, as revenue rose to GBP20.4 million from GBP19.3 million.
Murgitroyd raised its interim dividend to 4.75 pence a share, from 4.25p last year, and said it continued to pay down debt in the first half.
It said this reflected the return on ongoing investment in the operating businesses' people, systems and processes, as well as a strong performance in the US.
"We continue to see strong growth in revenue from the US which remains both a key geographical area for investment and an important growth market. It is the largest source of European Patent applications and our growing presence there offsets weaker European demand," said Chairman Ian Murgitroyd.
Murgitroyd's shares were up 2.5% at 574.20p on Monday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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