Marlowe's revenues propelled by eight acquisitions

Marlowe on Monday reported "good progress" as it said its annual profits and revenues had both enjoyed significant growth in a year in which the business completed eight acquisitions.

The safety and regulatory compliance specialists said revenue for the year ended 31 March grew 62% to approximately £130m due to contributions from acquisitions and broad-based organic growth across both the company's divisions, while adjusted EBITDA was anticipated to come in slightly ahead of current market expectations.

The eight acquisitions completed across the year, which include wastewater treatment outfit Atana Limited and property consultancy William Martin, cover all the key disciplines within the AIM traded company's two divisions.

Marlowe said that the integrations of all acquisitions made during the year are progressing well while the acquisition pipeline remains strong.

Finally, the company reported that its financial position is robust and underlying cash generation before acquisition-related investments remains strong, adding that full year results remain on course to be released on 18 June.

Marlowe's shares were up 5.05% at 438.04p at 0814 BST.