Marlowe FY results set to beat expectations on 'strong' H2 trading

10th May 2021 08:30

(Sharecast News) - Security systems outfit Marlowe said on Monday that trading in the second half of the year had been "strong", with the group now expecting to report full-year results ahead of market expectations.
Marlowe stated adjusted underlying earnings were expected to be in excess of £28.0m and said it had also delivered further margin expansion and strong underlying cash generation.

Reflecting the impact of recent acquisitions, Marlowe's current group run-rate adjusted EBITDA was approximately £39.0m.

The AIM-listed group highlighted that the new financial year had started well, with significant demand experienced across all business units in April as the integration programmes of acquisitions made during the year remained "on track".

As part of an effort to deepen its presence in existing markets, Marlowe also revealed that it had spent roughly £3.0m to acquire three businesses - Integral Occupational Health, Agriteck Solutions and the assets of One Price Fire Protection.

As of 0830 BST, Marlowe shares were up 4.89% at 797.20p.