StockMarketWire.com - Andrews Sykes Group's operating profits rose to GBP13.2m for the year to the end of December - up from GBP11.3m last time.

Revenue from continuing operations rose to GBP60.1m from GBP56.4m and profit after tax rose to GBP10.8m from GBP9.3m. Basic earnings per share increased by 16.0% from 22.03p last year to 25.55p. EBITDA from continuing operations rose to GBP17.7m from GBP15.6m.

Chairman JG Murray said: "Cost control, cash and working capital management continue to be priorities for the group. Capital expenditure is concentrated on assets that give a good return and in total £5.6 million was invested in the hire fleet this year, £1.2 million more than last year and significantly more than the wasting depreciation charge of £4.2 million. In addition, the group invested a further £1.1 million in property, plant and equipment. These actions will ensure that the group's infrastructure and revenue generating assets are sufficient to support future growth and profitability. Hire fleet utilisation, condition and availability continue to be the subjects of management focus."






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