HML Holdings' profits higher despite extensive portfolio investment

18th Jun 2015 10:05

Property management services group HML Holdings posted a 13% rise in operating profit for the year ended 31 March.Operating profit came in at £1.54m from £1.36m last year, while pre-tax profit rose 11% to £1.14m and earnings before interest, tax, depreciation and amortisation swelled 16% to £1.75m.Revenues gained 17% to £17.2m, despite significant investment in new acquisitions. The group had 51,000 property units under management, compared to 44,000 a year earlier, with new additions to the portfolio accounting for 8% of total revenue."We are pleased to be reporting continuous revenues and earnings growth particularly during a time in which we are making investments in our systems and infrastructure," said chief executive Rob Plumb."This investment enhances our confidence in our ability to continue providing both organic and acquisition led growth," he added.As of 10:15 BST HML Holdings was trading 4% lower at 35.5p.