Marlowe Regulatory News (MRL)

30 September 2024

Marlowe plc

AGM Statement

Marlowe plc ("Marlowe" or the "Group"), the leader in business-critical services which assure regulatory compliance, provides the following statement in respect of the five-month period from 1 April 2024 to 30 August 2024 (the "Period") ahead of the Group's Annual General Meeting ("AGM") to be held today at 14:00 BST at 20 Grosvenor Place, London SW1X 7HN.

Lord Ashcroft, Interim Non-Executive Chairman, will state at the AGM:

"The Group performed well in the Period, with Marlowe's continuing TIC operations trading in line with the Board's expectations and delivering mid-single digit organic revenue growth.

"All restructuring investments have now been completed, with costs incurred within the previously guided £5 million in the first half of the current financial year. The share buyback programme has been successful with over £40 million returned to shareholders through the repurchase of shares to date.

"The Group is well positioned and has a clear strategy to drive organic growth, margin enhancement and strong cash generation."

About Marlowe plc

Marlowe is a leader in business-critical services which ensures compliance with strict regulations and insurance requirements across Fire Safety & Security and Water & Air Hygiene. The Group has a national footprint and serves approximately 27,000 customers across office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include thousands of SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.