Servoca interim figures beats expectations

10th Jun 2009 07:40

Servoca, public sector resource and outsourcing provider, said half year figures were ahead of expectations as it turned into an interim profit following an 83% hike in revenues. Profit before taxation for the six months was £860,000 against the loss of £360,000 in the same period last year on revenue that surged to £30.1m from £16.46m before.The group said the figures were helped by a "substantial" restructuring and cost reduction programme during the first half. The 2008 results were marred by several one off costs and loss making businesses which have now been closed. "Current trading remains positive and the performance of the Group in the first half gives the Board confidence for the full year," it said.