StockMarketWire.com - Organisational resilience company Shearwater Group said group revenue saw significant growth to approximately £16m for the six months to 30 September, up from £4.5m in 2018, with around 10% of this growth from organic sources.

This has resulted in an expected underlying EBITDA profit of approximately £1m, following a loss of £1.6m last year.

During the first half of 2019, the group secured a number of new contract wins, including multi-year managed service contracts, and a substantial number of live cross selling opportunities were generated, of which 19 were converted into contract wins.

Shearwater has also secured 45 net new customer relationships since April 2019.

Chairman David Williams said: 'We have seen good momentum in H1 with the execution of our strategy yielding a materially improved financial performance, resulting in our second consecutive quarter of profits and strong organic revenue growth.'


At 8:05am: [LON:SWG] Shearwater Group Plc share price was +2p at 227p



Story provided by StockMarketWire.com