Half Year Results 

Marlowe upgrades expectations

Marlowe upgrades expectations

Marlowe’s (MRL) buy-and-build strategy for UK support services is continuing to pay off. The group completed four deals in the half year to September and another two post period-end, bringing its total to 23 since it listed in April 2016. So far, its approach looks to be delivering. Adjusted pre-tax profits increased by 60 per cent in the period, with related EPS up 41 per cent to 8.8p, with little evidence of dilution despite a placing of 4.21m new shares in July. Indeed, management now expects to outperform market expectations for the full year.

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