Ince Group PLC - London-based legal services firm - Posts surge in earnings for its financial year ended March 31. Revenue climbs 87% year-on-year to GBP98.5 million from GBP52.6 million. Pretax profit multiples to GBP23.2 million from GBP966,000 the year prior. The improved performance is attributed to the completion of a consolidation, which saw the overseas offices joining the group and contributing to revenue.
No dividend is declared due to Covid-19 related uncertainty compared to 6.0 pence paid the year prior.
Looking ahead, Ince says: "The underlying business has proven resilient and the group now has a firmly established international presence with a very strong brand. The board considers that the group has the strength, flexibility and commitment to prosper and grow for the benefit of shareholders and colleagues over the coming years. Given the Covid-19 uncertainties, it is too early to provide guidance on the results for the current year."
Cash held as at the end of March was GBP5.3 million.
Current stock price: 27.00p
Year-to-date change: down 76%
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.