Restore reveals half-year rises
September 17, 2018
The UK-based office services provider has published its consolidated financial results for the first half of 2018.
The company’s overall revenue rose by 9 percent compared to the same period of last year, increasing from £86.9 million ($113.9 million/€97.7 million) to £95.1 million ($124.6 million/€106.9 million).
There was also an increase in Restore’s operating profit, which increased by 15 percent to £18.9 million ($24.7 million/€21.2 million), from 2017’s £16.5 million ($21.6 million/€18.5 million).
Profit before tax increased from £15.3 million ($20.05 million/€17.2 million) to £17.3 million ($22.6 million/€19.4 million), whilst EBITDA also increased from £19.5 million ($25.5 million/€21.9 million) to £22.1 million ($28.9 million/€24.8 million) – in both cases, a rise of 13 percent.
“We are pleased to report another strong first-half performance, particularly in light of the demanding comparator set by our growth in the prior year period,” CEO Charles Skinner said, reflecting on the results.
He added: “TNT Business Solutions, whose acquisition we completed in May, has performed in line with expectations and its full integration into the Group is now underway. We remain focused on realising our targeted operational synergies and the longer-term opportunities that the business provides to expand our presence in the UK public sector, where many entities still undertake records management in-house. We will continue to pursue our strategy of organic and acquisitive growth and we are well positioned to gain further market share across all of our businesses.”
Categories : City News
Tags : Business Financials Half-Year Restore
