Restore (AIM:RST) - cracking results and a great new scanning contract
The UK office services provider, announced excellent half year results for the six months to 30 June 2015 with acquisitions driving the numbers.
Revenues were up 43% to £43.9m, the majority of which derived from acquisitions made in 2014, notably Cintas UK. Adjusted profit before tax increased 42% to £7.1m and adjusted earnings per share increased 31% to 6.8p. Adjusted profit before tax before exceptional items, amortisation, share based payments and other finance costs was £7.1m (2014: £5.0m) and adjusted earnings per share for the period were 6.8p (2014: 5.2p). The Document Management division continued to trade satisfactorily overall, with adjusted operating profit of £7.4m (2014: £5.3m) on turnover of £27.7m (2014: £16.0m). The core records management business accounted for the majority of…