The board of Freshwater UK plc, the leading independent communications consultancy, is pleased to announce that trading in the current year (to August 31, 2016) will be ahead of shareholder expectations based on the first half results.
Chief executive Steve Howell said:
“The group’s trading in the second half is above the revenue and operating profit run rates at the half year by around 11% and 14% respectively. Meanwhile, turnover for the year is now expected to exceed £5m – the highest figure for seven years.
“Freshwater has seen growth in the period across its divisions with the healthcare sector and Waterfront conferences and training doing particularly well.
“We have won new business by winning a number of competitive tenders as well as new projects from existing clients, allowing us to create 10 new posts across the group.
“Our staff in London and Cardiff have worked exceptionally hard in this period and the new appointments will ensure we can continue to meet client needs. We now have a sixty strong team with a very wide range of specialist expertise and sector experience.
“Freshwater is aiming to build on the success of the current year with further growth in 2016-17. While Brexit has created an added element of economic uncertainty, we do not envisage this having any impact in the short to medium term in the sectors in which the business is active.”
The board decided to make this statement in view of ongoing trading in Freshwater shares on the BritDAQ trading platform the company uses.
The next scheduled statement for shareholders will be after the year end, but a further update will be provided if there is a further material change in the business’s circumstances.
In 2014-15, Freshwater delivered a full year operating profit of £670,503 on a turnover of £4,198,192.
Interim results for the six months to 29 February, 2016 compared to the same period last year.
Highlights (half year)
Turnover increased 10%
Operating profit increased 24%
Further financial information can be found in the investor section of the Freshwater website – www.freshwater-uk.com