Acquisition machines ‘mostly’ deliver
Results and updates covered here include those of several acquisition driven companies, which also managed to encourage with excellent organic growth. Unfortunately, the shares of one small company, whose questionable antics we warned about previously, slumped on a disappointing update – we did warn you! (Free to read)
Marlowe: the acquisition machine impresses Marlowe (AIM:MRL), the provider of business-critical services and software which assure regulatory compliance, and an eager acquirer of companies over recent months, reported strong interim results. For the six-months to end September revenue rose 61% to £134.5m with adjusted operating profit up 122% to £16.4m. Much of this was acquisition driven, with underlying organic growth only 8%. Since 2016, Marlowe has been the leading consolidator within UK safety and compliance markets, investing approximately £450m across 64 acquisitions. The latest interim period saw them pay out £76.5m for 3 material acquisitions and 9 smaller ones which…