LONDON (Alliance News) - Residential property management and insurance company HML Holdings PLC saw its shares fall Thursday despite saying it grew its first-half profit and revenue, and is eyeing further acquisition opportunities.
The company said its pretax profit for the six months to September 30 rose to GBP611,000, compared with GBP538,000 the year before, as revenue grew by 16% to GBP8.3 million, up from GBP7.2 million the prior year, boosted by both organic and acquisition growth.
HML said it anticipates "further opportunities" for acquisitions.
"New business pipeline this year has included a rising proportion of new blocks as a result of the strengthening new build market. We are encouraged by the positive outlook for organic growth in this area, but we are also aware of growing margin pressure, particularly with regard to our new business streams," the company said in a statement.
Despite a positive trading update, HML shares were down 8.7% Thursday morning at 31.50 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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