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Interim Results

Exova revenues rise

31 August 2016 09:25

Exova Group posts pre-tax profits of £20.1m for the six months to the end of June - up from £18.3m last time.

Revenues rose to £160.9m - up 9.5% at constant currency and 13.0% at actual rates. EBITA increased to £23.4m from £21.4m a year ago. The interim dividend of 1.05p per share is up from 1.0p.

Chief executive Ian El-Mokadem said: "This is another satisfactory set of results in line with our expectations, demonstrating clear progress towards our medium term objectives.

"Overall growth was very strong, driven by acquisitions and broad based organic growth in all areas of the portfolio, with the exception of our Oil & Gas and Industrials cluster, which we now expect to weaken further in the second half.

"The portfolio has been strengthened by the recent acquisitions and disposal, and with further cost actions taken to mitigate the poor trading conditions in oil & gas, we are on track to achieve market expectations."

At 9:25am: (LON:EXO) Exova Group Plc share price was +3.25p at 199.75p

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