Marlowe revenue surges after acquisition frenzy surpasses £300m
Services and software group Marlowe has seen group revenue shoot up 65 per cent after a slew of acquisitions.
In results for the year ended 31 March 2022, the AIM-listed company said group revenue surged to £315.9m while adjusted EBITA soared 90 per cent to £54.4m.
Adjusted profit before tax increased 123 per cent to £38.1m, the London-listed business said on Tuesday morning.
Some £314m capital had been deployed across the 2022 financial year to finance more than 20 earnings enhancing acquisitions, Marlowe said.
This included a £135m take over of occupational health and wellbeing company Optima Health, as well as £30m on water treatment and water hygiene company Hydro-X.
“We are pleased to report a strong financial performance in the year and further significant progress in the execution of our strategy,” Alex Dacre, Marlowe chief executive, said.
He added: “We have made a strong start to the new financial year, with good levels of organic growth, £26m of capital deployed in completing six further acquisitions and continued successful integration programmes.
“Our acquisition pipeline is well-developed and we expect to report on further progress as the year develops.”