Marlowe expects strong set of results ahead of expectations

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The group has recently acquired three companies which are expected to enhance earnings

() said full-year results will come in ahead of expectations, with adjusted underlying earnings (EBITDA) to be over £28mln in the period to 31 March.

It would be a 43% increase from last year’s £16mln.

The compliance and safety software specialist said it has also delivered further margin expansion and strong underlying cash generation.

Reflecting the impact of recent acquisitions, current group run-rate adjusted EBITDA is around £39mln.

The AIM-listed firm has snapped up Integral Occupational Health, an occupational health provider based in Glasgow for £2mln.

Agriteck, a water treatment business, and the assets of One Price, a fire safety business, have been acquired for a combined expected enterprise value of £600,000.

The new financial year has started well, with significant demand experienced across all business units in April, the company said.

In a separate announcement, Marlowe said it has adopted an executive incentive plan (EIP) which is subject to shareholder approval, though 45% of shareholders have already said they would vote in favour.

The EIP will form the cornerstone of the company’s remuneration structure to retain and motivate the senior management team, as it targets £500mln group revenues and £100mln adjusted EBITDA in the next three years.

Shares rose 4% to 790.1p on Monday morning.

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