Preliminary results for the year ended 31 March 2004
95% growth in pre-tax profit
9 June 2004
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Erinaceous Group plc (“Erinaceous”), the one-stop shop property services group operating in the public and private sectors, announces its maiden unaudited preliminary results for the year ended 31 March 2004, since listing on AIM in November 2003 raising £9 million (net of costs).
Financial Highlights
- 25% growth in turnover to £42.2m (2003: £33.7m)
- 52% growth in adjusted pre-tax profit (before exceptionals and goodwill) to £6.0m (2003: £4.0m)
- 95% growth in pre-tax profit to £4.3m (2003: £2.2m)
- 71% growth in basic earnings per share to 7.2p (2003: 4.2p)
- 35% growth in basic adjusted earnings per share to 11.3p (2003: 8.4p)
- Turnover and profits have risen across all three trading divisions
- Final dividend of 1.75p per share to be paid in July 2004
Corporate Highlights
- In the year ended 31 March 2004 the group has made five new acquisitions, the largest being JSSP Ltd acquired in July for a consideration of £1.2m
- Since 31 March 2004 the group made three further acquisitions, the largest being ISG Occupancy acquired in April for £10m
Nigel Turnbull, Chairman of Erinaceous, commented: “We have achieved a great deal over the last year with a 71% growth in earnings per share, the transition to being a listed company and the operational integration of our businesses. We are now well placed to grow organically and to take advantage of recent acquisitions and further acquisition opportunities. The current year has begun well with positive trading across the group.”
For further information:
| Neil Bellis, Chief Executive |
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Jeremy Carey / Simon Hudson / Marylène Guernier |
| Lucy Cummings, Commercial Director |
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| Michael Pearson, Finance Director |
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Tavistock Communications |
| Erinaceous Group plc |
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Tel: 020 7920 3150 |
| Tel: 0870 703 9898 |
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The company will make a presentation to analysts at 9.30 am on Wednesday 9 June 2004 at the offices of Tavistock Communications, 131 Finsbury Pavement, EC2A 1NT. A copy of the presentation will be available on
www.erinaceous.com.
