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Trading statements

Servelec positive about outlook

27 July 2016 07:41

Servelec said it remains positive about the outlook for the company, with challenges to date arising as a result of timing setbacks rather than any structural change in business environment.

"The company remains in a robust financial position with a strong balance sheet. Net debt at the half year is £13m with this expected to reduce on the back of cash collection in the business during the remainder of the year," it said in a statement.

CEO Alan Stubbs commented:

"Our half year position means we believe that our full year outlook will be in line with the Trading Update issued in June.

"Conditions in some of our markets remain challenging but we continue to gain market share and the Board is confident that we are taking the necessary corrective actions in both Health & Social Care and Automation, for the business to succeed. We remain confident that we will generate shareholder value going forward."

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