The security service providers announced today that its profit for the year ending April 2007 hit GB pound 345.5m. In addition, their diluted share price has risen to 46.2p per share from 41.9p per share in 2006.
Commenting on the results, the group’s Managing Director Julian Nicholls said:
“In the last year we have made good progress in all our businesses and strengthened our position in our major markets.
“It has been an important year for Reliance in completing and consolidating the changes we have made to our management team which has brought a renewed focus and energy to the business.
“We have also made revenue investments in our sales and marketing capabilities. Some of the benefits are already reflected in the progress we have made to renew contracts with existing customers and win significant new business thus continuing to build a firm foundation for the group.”
Despite the encouraging growth in turnover and share price, the group’s forward FM order book is down GB pound 6m on last year.
In a written address to investors, Chairman Brian Kingham said he believed the outlook for the current year was encouraging.
“In security services, we anticipate some further beneficial effects of regulation and we are well placed to take advantage of the new regulated market later this year in Scotland”, he said.