26th Jun 2014 11:09
LONDON (Alliance News) - Progility PLC Thursday said its full year results for the year to end-June will be in line with market expectations, despite the weaker Australian dollar, as it saw "significant progress" in its second half.
The management services company said it had acquired three new businesses over the last year under its new senior management team, which had more than doubled the size of its business. It has also refocused and restructured its historic training business.
It is now seeing the benefits of its new strategy, booking new contract wins and a lower cost base in the second half of the year.
Progility makes most of its revenues in the UK and Australia. It has secured several large contracts in Australia, and said its training business in the UK had reported improved margins. It is confident it can continue to expand both countries.
"We believe we have now established a good base from which to build a much larger business," said Executive Chairman Wayne Bos in a statement. "We are constantly looking at opportunities which we hope will deliver further benefits for all shareholders."
Shares in Progility were trading up 16% at 5.49 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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