Restore plc – cracking results from the office services group
The UK office services provider, encompassing records management and relocations, issued excellent results for the year ending 31 December 2014 slightly ahead of expectations. This business offers decent visibility earnings, something that is hard to find on AIM.
Group revenue was up 26% to £67.5m with Document Management revenue up 35% and Relocations revenue up 16%. Group adjusted profit before tax was up 20% to £12.0m and adjusted earnings per share came in 17% higher 12.3p
Growth was driven by acquisitions, with six acquisitions completed in the year, including the UK records management and scanning division of Cintas.
There was a confident statement from The Chief Executive who commented how their Document Management…
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