Environ Group (Investments) plc – Results for the Year Ended 31 March 2011

Environ Group (Investments) plc – Results for the Year Ended 31 March 2011

Results for the Year Ended 31 March 2011

Environ Group (Investments) Plc the AIM quoted support services and fire prevention specialists, today announces its statement of results for the year ended 31 March 2011.

Key points

•     Gross profit increased 15% to £6.4 million (2010: £5.5 million).

•     Profit before tax for the year of £461,000 (2010: loss of £17.2 million) with improved performance from all three subsidiaries.

•     Cash at year end £237,000 (2010:  £116,000).

•     Net Assets £8.1 million (2010: £4.0 million).

•     Streamlined business, now has the necessary accreditation in the emerging Renewable Energy markets and national operation ready to take full advantage of government initiatives.

•     Establishment of Midlands based Training Centre to assist in accreditation of engineers to cope with the expected demand in the Renewable Energy market.

 

Commenting on the results Chairman Nigel Wray said:

After an extraordinarily turbulent financial year to 31 March 2010 I am pleased to report a small pre-tax profit for the year to 31 March 2011. As discussed at the interim stage when we in fact recorded a small loss, every month of the second half has continued to be profitable. As indeed has the start of the new financial year. Our three businesses are in legislation led sectors with strong growth potential in the future. It is very early days and times (and margins) are tough but the current year has started satisfactorily and I would reiterate once again that all of the Board are substantial shareholders and greatly committed to making the Group a true success.

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