LONDON (Alliance News) - HML Holdings PLC Thursday reported an increase in profits for its last financial year on the back of strong revenue growth, and committed to paying a maiden dividend in the year ahead.
The property management services group reported a pretax profit of GBP1.0 million for the year ended March 31, up from GBP762,000 a year earlier, as revenues rose 15% to GBP14.8 million from GBP12.8 million.
"The group is confident of its ability to take advantage of the opportunities presenting themselves in a changing residential property management market," said Chief Executive Rob Plumb in a statement.
HML said it was confident of the group's ability to grow both organically and through acquisitions. Signalling its confidence, the company said it was committed to paying a maiden dividend of 0.27 pence per share in 2014.
HML said that profit and revenue growth during the year was driven both organically and through its recent portfolio acquisitions, including the businesses of PR Gibbs in Bolton, and LHH Block Management in Kensington, London.
HML shares were up 2.4% Thursday morning, trading at 37.90 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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