Marlowe trading in line as acquisitions integrate 'well'
Support services group Marlowe updated the market on its trading for the six months to 30 September on Friday, saying trading in the first six months of the financial year was in line with board expectations.
The AIM-traded firm said both divisions - Fire Protection & Security and Water Treatment & Air Hygiene - performed well, with the integration of the four acquisitions completed in the period proceeding to plan and synergies in line with those anticipated on acquisition.
It said it continued to benefit from increased awareness of the requirement for the high standard of maintenance that is needed to comply with health and safety laws and regulations, along with a focus on cross-selling across business streams.
“The acquisition of Ductclean UK, which added the complementary activity of Air Hygiene to the Group, was completed in July, and the business has traded well following acquisition,” the board said in its statement.
“Net cash at 30 September is expected to be in the region of £3.1m and the group remains well positioned to continue its acquisition-led growth strategy.”
Marlowe said its interim results would be released on 11 December.