Norwich infrastructure services company May Gurney has seen its pre-tax profit and sales increase in its half year results published today.
Norwich infrastructure services company May Gurney has seen its pre-tax profit and sales increase in its half year results published today.
The company, which provides services to more than 30pc of the population reported a 'solid performance' with first half revenues up 21pc to �351m and pre-tax profits in the half year up to September 30 up 21pc to �14.5m.
The company has reported its interim dividend is up by 34pc to 2.79p per share
The firm's forward order book increased to �1.5bn for 2012/13 and said that it has �4n of bidding opportunities in the pipline.
The company has secured �290m in new contracts or contract extensions in the first half of the year including waste collection, street cleaning and winter maintenance for Bristol City Council.
The company has also announced today that its group finance director Matt Stevens has resigned from the board and will leave the company next April to join social purpose company A4e.
May Gurney cheif executive Philip Fellowes-Prynne, said: 'May Gurney has once again delivered a solid financial and operational performance with continued turnover and profits growth, healthy cash generation and significant new business wins providing organic growth and long-term earnings visibility.
'Our strong financial position is the result of our proven strategy of focusing on developing long-term relationships with our clients for the delivery of essential front-line maintenance and enhancement services.
'The earnings-enhancing acquisition of TransLinc not only strengthens May Gurney's
market leading positions in highways maintenance and environmental services but also extends May Gurney's national coverage and client base, offering significant cross-selling opportunities and providing a broadened service offering to existing clients.
'Whilst alert to the challenges in the economy, and the pressures on Government linked
expenditure in particular, we believe that the essential nature of our services, our flexible approach, together with our solid balance sheet, position us well to continue to build upon the Group's success.'
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