20th Jan 2015 09:44
LONDON (Alliance News) - Technology firm Servelec Group PLC Tuesday said trading momentum built up earlier in 2014 continued through the end of the year, meaning its full-year results for 2014 will be in line with market expectations.
The software and hardware services company said it produced a good financial performance in its maiden year as a listed business, making "important operational strides forward", it said, highlighting good trading momentum from its Servelec Healthcare business during the year.
"The outlook for our markets remains encouraging, and we start 2015 with a clear strategy for growth," said Chief Executive Alan Stubbs in a statement.
In its Technologies division, the company said the integration of the Semaphore business, which it acquired in October 2013, has progressed well, leading to significant contribution in 2014.
"In the UK, we are positioned ready for the next water industry spending programme which begins in April, following a number of successful pilots run with existing customers. Outside the UK, our productised offering is gaining traction through our global distribution network," the company said.
The company said the recent acquisition of UK social care case management software provider Corelogic last month delivers "new potential" for its Health & Social Care division.
"The board is also confident about the scale of the opportunities for the Automation division and the further strengthening of our senior management team in this division will enable us to target new opportunities, both at home and internationally, maximising opportunities provided by our global distribution network," said Stubbs.
Investec Securities is expecting Servelec to report a pretax profit of GBP12.2 million for 2014.
Servelec said it plans to release its full-year results on March 11.
The company's shares were trading 0.5% lower at 304.45 pence Tuesday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Servelec Group