Marlowe PLC Trading Update (2950X)

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RNS Number : 2950X

Marlowe PLC

29 April 2019

29 April 2019

Marlowe plc

("Marlowe" or the "Group")

Trading Update

Marlowe, the specialist services group focused on developing companies which assure safety and regulatory compliance, provides the following trading update for the financial year ended 31 March 2019.

Marlowe continued to make good progress in the period, with significant growth in both revenues and profits. Revenue for the financial year grew 62% to approximately GBP130m (2018: GBP80.6m) reflecting the contribution from acquisitions and broad-based organic growth across both our divisions. Current 12-month run-rate revenues are approximately GBP150m. The Board expects Adjusted EBITDA for the year ended 31 March 2019 to be slightly ahead of current market expectations.

The Group's financial position is robust and underlying cash generation, before acquisition-related investments, remains strong.

The Group completed eight acquisitions in the year across all the key disciplines within our two divisions and made one non-core divestment. The integrations of all acquisitions made during the year are progressing well and our acquisition pipeline remains strong.

Marlowe is today hosting an investor event in London. No further new material trading, financial or other information will be disclosed during the event.

Marlowe intends to publish its full year results for the year ended 31 March 2019 on 18 June 2019.

For further information:

 
 Marlowe plc                                www.marloweplc.com 
  Alex Dacre, Chief Executive                Tel: [phone] 
  Mark Adams, Group Finance Director         [e-mail] 
 Cenkos Securities plc (Nominated Adviser   Tel: [phone] 
  & Joint Broker) 
  Nicholas Wells 
  Ben Jeynes 
  Harry Hargreaves 
 Berenberg (Joint Broker)                   Tel: [phone] 
  Ben Wright 
  Mark Whitmore 
 FTI Consulting                             Tel: [phone] 
  Nick Hasell 
  Alex Le May 
 

About Marlowe

Marlowe is a UK leader in specialist services which assure the safety and regulatory compliance of commercial properties, whilst managing risk for businesses across the country. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated inspection, testing and compliance services. It is focused on health & safety, fire safety, security, water safety, water treatment, air quality and environmental services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides services to over 10% of Britain's commercial properties and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated safety services. Our customers can be found in most office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

For further information, please visit www.marloweplc.com

The information communicated within this announcement was deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 prior to the release of this announcement. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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April 29, 2019 02:00 ET (06:00 GMT)