21st Jan 2016 09:07
LONDON (Alliance News) - Software and services company Servelec Group PLC on Thursday said its 2015 results will meet market expectations following a strong performance for its health and social care units.
Servelec said it expects the good year from the health and social care units to continue into 2016, with a strong order book in place and increasing activity in the social care market.
This offset a weaker performance by its automation unit, which is exposed to the struggling oil and gas industry. Servelec does expect the automation unit to have a better 2016, as a result of demand from the nuclear and power market.
"The group has delivered on its promises of strong and predictable financial performance, supported by its diversified business model. We finish 2015 with an improved cash position year on year and a strong order book going into 2016," said Chief Executive Alan Stubbs.
Shares in Servelec were up 4.1% to 307.00 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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