25 Jan 2007 07:01
GSH Group PLC25 January 2007 GSH Group plc AGM Statement At today's Annual General Meeting of GSH Group plc ("GSH" or "the company"), Bob Gilbert, Non-Executive Chairman will tell shareholders: "I am very pleased to report that 2005/6 was another record year for the Groupwith underlying profit before tax increasing by 49% to £6.7 million. Top lineperformance was also good with turnover growing by 15% to £136 million. It was an excellent year in many respects, with a combination of successfulacquisitive and organic growth. We completed two acquisitions that are now fullyintegrated into the business and are already earnings enhancing. Our forwardorder book grew from £482 million in 2005 to £532 million at the end of July2006 and we demonstrated continued growth in all our markets. In our UK and Eire business, we were delighted to announce new contracts winswith Vodafone, Xerox, Abbey and My Travel extending our blue chip client base.Equally pleasing were the significant contract extensions we secured in the yearwith Halifax Bank of Scotland and T-Mobile clearly demonstrating our continuinghigh standards of service delivery. Our overseas businesses also grew significantly in the year with bothContinental Europe and USA operations each showing turnover growth of nearly50%. As a sign of this confidence, the Board have recommended the payment of anincreased final dividend to our shareholders of 5.3p talking the dividend forthe year to 7.5p, an increase of 15%. After 52 years' service, Mr Ian Scarr-Hall stepped down from the Group Board inNovember 2006. Ian's wise counsel has been extremely helpful to me in my firsttwo years as Chairman. The whole Board and all those employees who know him wishhim well for the future. The Group's strategy remains focused on the outsourced facilities management(FM) market and we will continue to capitalise on the increasing trend towardsoutsourcing FM in all our geographic markets, and continue to pursue acquisitionopportunities to enhance our service offering in the UK, USA and Europe We are particularly well positioned to take advantage of ever-increasing safetyand environmental legislation internationally and with climate change becomingclose to the top of our own and our customers' agendas, our energyplus offering,and the systems that support it, give us a unique opportunity to pursue a morerigorous approach to energy management within our market place. To achieve our ambitious growth targets we need technology capability, strongsupply chain solutions, an environmental framework, customer focus and talentedpeople. I can say with confidence that GSH demonstrates strength in all theseareas and we have made a strong start to this financial year with a good forwardorder book. I therefore look forward to achieving further growth in the comingyear." For further information, please contact: GSH Group plc Tel: 01782 200455David Simons, Chief Financial Officer Bell Pottinger Corporate & Financial Tel: 020 7861 3232Ann-marie WilkinsonSarah Hilyer This information is provided by RNS The company news service from the London Stock Exchange