26th Jan 2016 08:53
LONDON (Alliance News) - Restore PLC on Tuesday said trading for 2015 was in line with its expectations, following a steady performance in its document management division.
The record management company said it had seen "significant" increases in revenue, profit and earnings per share for the year ended December 31, after a good year-on-year growth in its relocations division, particularly in the second half, and satisfactory trading in its toner cartridge recycling business, ITP Group, acquired in June.
The document management division, which accounts for the majority of group profit, had a steady performance.
It said Restore Scan, its scanning services company, was recovering from disappointing trading, but had a strong order book for 2016. It added the acquisition of Wincanton Records Management was completed in December 2015 and a process of integration has begun.
"As expected at the time of acquisition, several acquired businesses have required substantial restructuring and these are now showing a marked improvement in profitability under our ownership," said Chief Executive Charles Skinner.
"We continue to strengthen our position as a key supplier of services to UK offices and we have an excellent platform for further profitable growth with strong visibility of earnings," he added.
The company was trading down 0.4% at 285.44 pence on Tuesday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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