May Gurney profits plunge in first half results

Underlying profits at support services provider May Gurney fell to 1.1m pounds in the first half of 2012, compared to 14.5m pounds in the corresponding period last year, according to the group's interim results published on Tuesday.

Underlying profits at support services provider May Gurney fell to 1.1m pounds in the first half of 2012, compared to 14.5m pounds in the corresponding period last year, according to the group's interim results published on Tuesday.

The results, which cover the half year ending September 30th, showed a reduction in underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) and overall operating margin, although the company posted £314m of new business.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.