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."
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
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
