Successful Half- Year results for Andrews Sykes Group plc

<![CDATA[Profits have grown for Andrews Sykes Group plc after a successful half year and the outlook for the rest of the year remain reasonable within the company. Revenue, for the first half of the year, has seen an increase of 3.1% compared with last year’s figure of £27.7 million bringing the figure to £28.6 million this year. Andrews Sykes has also continued to generate strong cash flows as net funds have seen an increase of £2.2 million from December 2011.

Despite a busy first year with the relocation to larger premises in Peninsular Park Way, London, the group’s normalised operating profit has also increased by 8.7% from £5.9 million to £6.4 million. Andrews Sykes remained conscious to maintain the operational structure of the business throughout the relocation and successfully ensured that business was not damaged by unnecessary cuts in expenditure. The relocation was also effectively completed within financial budgets and timescales during the first half of 2012.

With an investment of £2.0 million on new plant and equipment and property improvements during the period, the company remains in a strong position for the next year and looks to the future with confidence.

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