26th Feb 2014 12:03
LONDON (Alliance News) - Servoca PLC Wednesday said that improvements it established during the year to September 2013 have continued into the current financial year.
The outsourcing and recruitment firm said that performance is currently ahead of internal expectations.
In January, the company reported higher profits and revenues for its full-year driven by improved profitability in its education recruitment businesses, where strong revenue growth fuelled a 50% uplift in operating profits.
The company also said at the time that its healthcare-related businesses benefited from cost-cutting initiatives implemented the previous year, to help reduce their overheads, and its police and security-related businesses also delivered increases in revenues and gross profits over the prior year.
Servoca reported a pretax profit for the 12 months to September 30 of GBP672,000, a significant increase from a pretax profit of just GBP46,000 a year earlier.
Servoca shares were up 8.1% to 8.65 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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