19 Oct 2015 07:00
PRESS RELEASE
19 October 2015
Lakehouse plc
("Lakehouse" or the "Group")
Trading Update for the year ended 30 September 2015
Lakehouse plc (LSE:LAKE), the asset and energy support services group, today publishes the following trading update for the year ended 30 September 2015, ahead of its preliminary results which will be published on 10 December 2015.
It is pleasing to report that in our first year as a PLC trading across the Group has remained in line with our expectations for the year ended 30 September 2015.
Similarly underlying operating cash conversion was in line with management expectations and we expect to end the year with positive net cash after making a number of acquisitions in the second half of the year.
The integration of H2O, Providor, Orchard Energy and Sure Maintenance are progressing as planned and we are delighted by the progress being made by the teams at each business and the further opportunities for cross-selling that are being identified.
The Group is starting the new financial year with a robust sales pipeline and order book with a number of new contract wins having been secured in each division in the second half of 2015, giving us good visibility for the year ahead.
Commenting on today's announcement, Stuart Black, Executive Chairman of Lakehouse, said:
"We are pleased to announce that our performance during the period has been positive and that the full year results are in line with management's expectations."
ENDS
Enquiries:
Lakehouse | Telephone: 01708 758 800 |
Stuart Black, Executive Chairman | |
Sean Birrane, Chief Executive Officer | |
Jeremy Simpson, Chief Financial Officer | |
Financial Public Relations | |
Camarco | Telephone: 0203 757 4992 |
Ginny Pulbrook | |
Tom Huddart | |
Notes to Editors:
Lakehouse is an asset and energy support services group that constructs, improves, maintains and provides services to homes, schools and public buildings with a focus on clients in the UK public sector and regulated markets. Services are delivered through four divisions: Regeneration, Compliance, Energy Services and Construction. The Group was founded in 1988 and is headquartered in Romford, Essex. It currently employs approximately 1,800 staff from 29 offices situated throughout England and Scotland.