Marlowe, the specialist services group focused on developing companies which assure safety and regulatory compliance, provides the following trading update for the financial year ended 31 March 2019.
Marlowe continued to make good progress in the period, with significant growth in both revenues and profits. Revenue for the financial year grew 62% to approximately £130m (2018: £80.6m) reflecting the contribution from acquisitions and broad-based organic growth across both our divisions. Current 12-month run-rate revenues are approximately £150m. The Board expects Adjusted EBITDA for the year ended 31 March 2019 to be slightly ahead of current market expectations.
The Group’s financial position is robust and underlying cash generation, before acquisition-related investments, remains strong.
The Group completed eight acquisitions in the year across all the key disciplines within our two divisions and made one non-core divestment. The integrations of all acquisitions made during the year are progressing well and our acquisition pipeline remains strong.
Marlowe is today hosting an investor event in London. No further new material trading, financial or other information will be disclosed during the event.
Marlowe intends to publish its full year results for the year ended 31 March 2019 on 18 June 2019.