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Safety company investor Marlowe swung to a full-year loss, owing to acquisition and restructuring costs, though its underlying performance improved on higher sales.
Pre-tax losses for the year through March amounted to £1.6 million, compared to a year-on-year profit of £0.5 million.
Adjusted pre-tax profit rose 31% to £17.1 million, as revenue rose 3.6% to £192.0 million, or by 15% on a continuing operations basis.
Marlowe said it completed 15 acquisitions during the year and another eight so far in the current financial year.
It had made a 'strong' start to the new financial year, with levels of organic growth consistent with medium-term targets in the high single digits across both GRC and TIC operations.
'We have made a strong start to the new financial year, with good levels of organic growth, and look forward to delivering further profitable growth,' chief executive Alex Dacre said.