Sureserve Group (SUR); revenue increased 11% to £212.1m

Published on 21-01-2020 08:34:31
Author Sparks Team

For the year ended 30 September 2019, Sureserve Group reported revenue from continuing operations grew 11% to £212.1m. Trading for the current financial year started on a strong note, with the £333.2m order book covering about 72% of FY20 revenue. PBT from continuing operations grew 174% to £5.3m

The group announced wins worth £147.3m for the period and says it will focus on smart metering and readiness for the SMETS2 roll-out. The group reported a net debt of £7.4m as of 30 September 2019.

The board expects to participate in 96 frameworks worth a total of £592.7m at the year-end. The group is well-placed to deliver a clear growth strategy in the market-leading gas services division. The group is well-positioned for further organic growth in a fragmented and regional market.

Bob Holt, Sureserve Group’s Chairman, commented: “The group’s outlook remains positive and we are confident of continuing to deliver on our clearly-defined growth strategy, evidenced by the proposed dividend for the full-year of 0.5 pence per share. We continue to have confidence in the visibility of our predictable, non-volatile revenue streams, underpinned by our established reputation for quality market-leading services in highly-regulated sectors.”

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