- Andrew Sykes Group posted a rise in annual profits on improved performance at its hire and sales businesses in the UK and Europe.

For the year ended 31 December 2018, operating profit rose 17.6% to £20.7m as revenue climbed 10.2% to £78.6m.

The company attributed the growth to 'strong and improved performances from both our hire and sales businesses in the UK and Europe and a strong and stable performance from our business in the Middle East.'

Looking ahead, the company said its policy to increase investments in new technologically advanced and environmentally friendly non-seasonal products would be continued into 2019. 

'The group continues to face both challenges and opportunities in all of its geographical markets but our business remains strong, cash generative and well developed, with positive net funds. The Board remains mindful of the favourable or adverse impact that the weather can have on our business,' it added.

At 9:42am: [LON:ASY] Andrews Sykes Group PLC share price was +35p at 615p

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