Business critical services firm Marlowe announced this morning that its profits have rocketed in the six months ended 30 September.
The group’s operating profit has registered a 122 per cent growth compared with the same time last year, going from £7.4m to £16.4m, while its adjusted EBITDA margin has hiked by 300 bps, from 14.8 per cent to 17.8 per cent.
Revenues have also gone up significantly, from £83.3m to £134.5m.
“We have delivered on each of the four key strands of our strategy, deepening and broadening our presence across our markets via strong
organic growth and completing 12 acquisitions during the first half, adding significant scale and additional compliance capabilities,” said Marlowe’s chief executive Alex Dacre.
“We have further strengthened our operations by delivering effective integration programmes and organic investments whilst expanding our
adjusted EBITDA margin by 300 bps.
“Progress during and following the period underpins our confidence in materially overachieving against the financial targets we set in
February 2021 to reach Group run-rate revenues of £500m and adjusted EBITDA of £100m by the end of FY2024.”
After continuing to see strong results in the second half of FY2022, the company decided last week to raise its full year guidance, expecting to “trade ahead of market expectations for the full year.”