22nd Sep 2015 09:45
LONDON (Alliance News) - Project management consultancy Progility PLC posted higher pretax profit for the year to the end of June on Tuesday, primarily thanks to a one-off gain it made on its acquisition in India, as its revenue also was lifted by the acquisition.
Progility's pretax profit for the year to June 30 was GBP505,000, up from GBP426,000 a year earlier, due mostly to a GBP2.6 million exceptional gain it made in 2015, which offset a rise in financing costs.
Revenue for the company surged in the year, up to GBP60.1 million from GBP39.5 million, driven by the acquisition of healthcare project services company Starkstrom Group Ltd, the Indian arm of communications company Unify Group and training and development services company Woodspeen Training Ltd.
The group said it is confident it will benefit from its increased scale in the coming year and said it will continue to look at potential acquisitions to further add to its operations.
Shares in Progility were up 13% to 2.8198 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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