27th Aug 2015 08:51
LONDON (Alliance News) - Servelec Group PLC Thursday expressed confidence in its prospects and its overall outlook as it posted a rise in pretax profit for the first half of 2015.
The software and services firm proposed an interim dividend of 1.65 pence, up from 1.5p a year before.
For the half year to end-June, Servelec registered a pretax profit of GBP4.8 million, up from GBP4.4 million a year before, as revenue rose to GBP30.0 million from GBP25.0 million.
The company said its health and social care division performed well, whilst a strong performance in technologies offset a lower result from its controls business in the automation division. The weakness in controls was due to continuing challenging conditions in the oil and gas sector, it said.
"The group has delivered a good performance in the first half of 2015 with the overall result in line with expectations demonstrating the strength of our diversified business model," said Chief Executive Officer Alan Stubbs in a statement.
"The board is confident about the prospects of the group and overall outlook for the business," Stubbs added.
Shares in Servelec were up 2.8% at 290.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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