11th Mar 2015 09:38
LONDON (Alliance News) - Office services provider Restore PLC on Wednesday reported higher pretax profit and revenue for 2014 as the group posted robust performances in its document management and relocations businesses and hiked its dividend by 26%.
Restore said its pretax profit for the year was GBP6.1 million, up 20% from GBP5.1 million a year earlier on the back of a 26% rise in revenue to GBP67.5 million from GBP53.6 million.
The company said revenue from its document management business rose 35%, driven higher by improved net box growth rates and acquisitions, while revenue in is relocations arm increased 16% on the back of improved market conditions and an increasing base of recurring revenue.
Restore also said it will pay a final dividend of 1.6 pence, giving it a total dividend of 2.4 pence, up 26% on the 1.9 pence payout it made in 2013.
"We are pleased to report another strong performance in 2014 and further significant progress in expanding the scale and scope of the group's activities," said Restore Chief Executive Charles Skinner.
"We will continue to pursue our strategy of organic and acquisitive growth. The current year has started satisfactorily and we look forward to delivering another year of strong progress in 2015," Skinner added.
Restore shares were down 0.9% to 265.50 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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