11th Nov 2014 10:35
LONDON (Alliance News) - Servelec Group PLC said Tuesday that it continues to perform in line with market expectations for the full year, on a "solid performance" in the third quarter of 2014.
The software and hardware services company said its Servelec Healthcare business saw "healthy trading" during the period, having now been awarded preferred bidder status on a total of seventeen National Health Service trusts as part of the London Refresh programme.
During the fourth quarter it expects increased activity relating to the Northern Renewal programme, and expects the outcome of these tenders to start reaching preferred bidder status during 2015.
In its Automation business, the integration of acquisitions Tynemarch Systems Ltd and Semaphore Group continued to plan, Servelec said, and Semaphore saw an improved performance, helping to boost net margin.
Servelec expressed confidence in the long-term growth drivers in this market, and said it is seeing a growing pipeline with further orders expected in the fourth quarter.
"The wins we continue to achieve, and the integration work we have undertaken in 2014 create a strong foundation for growth in future years," said Chief Executive Alan Stubbs in a statement.
Shares in Servelec are trading down 1.5% at 272.25 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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