Marlowe reports solid year-to-date performance

30th Sep 2024 10:54

(Sharecast News) - Business-critical regulatory compliance service specialist Marlowe reported a solid performance for the five-month period from 1 April to 30 August in an update on Monday.

The AIM-traded firm, which was holding its annual general meeting said its testing, inspection and certification (TIC) operations traded in line with expectations, achieving mid-single digit organic revenue growth.

Interim non-executive chairman Lord Ashcroft confirmed the company had completed its restructuring investments, which were capped at £5m as previously guided for the first half of the financial year.

Additionally, Marlowe had executed its share buyback programme, returning over £40m to shareholders through the repurchase of shares.

Looking ahead, Lord Ashcroft said Marlowe remained well positioned, with a clear strategy to drive organic growth, enhance margins, and generate strong cash flow.

At 1035 BST, shares in Marlowe were down 0.32% at 314p.

Reporting by Josh White for Sharecast.com.