Hasgrove incurs restructuring costs, gross income up
Hasgrove, a digital and communication services group, has said it expects to report gross income in the region of £16.5m (2010: £16.0m) and a pre-exceptional operating profit of around £0.8m (2010: £1.7m) for the year ended December 31st.
Hasgrove, a digital and communication services group, has said it expects to report gross income in the region of £16.5m (2010: £16.0m) and a pre-exceptional operating profit of around £0.8m (2010: £1.7m) for the year ended December 31st.
Hasgrove has largely completed the restructuring of its digital businesses following the sale of Interel, the public affairs and strategic communications division, in July 2011. As a result there will be an exceptional cost of £865,000 for the full year. No further significant exceptional costs are anticipated.
Paul Sanders, group Chief Executive, said: "2011 was a year of change for Hasgrove, resulting in improved trading by the year end which has continued into the start of 2012. We are focused on delivering a strong first quarter, which will provide a platform for continued growth throughout 2012."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Hasgrove's operating units continued to be cash generative, resulting in net debt being reduced to £1.5m at 31 December 2011.
The share price rose 5.26% to 40.00p by 16:53.
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published