Umeco drives growth with £217m sales
Supply chain services provider Umeco has secured several key contracts which will “drive its future growth”. The contracts have contributed to a rise in revenue of more than £18m over the last six months, the Leamington Spa-based company revealed.
The company released its interim results through the London Stock Exchange this morning.
Umeco garnered £217.2m worth of sales over the six months to 30 September 2010, a rise of 9.4 per cent on its comparable 2009 result.
Pre-tax profit was £11.1m, up from 9.9m in 2009.
Clive Snowdon, chief executive of Umeco, said: "We have weathered the effects of the economic downturn well. We have a growing order book, underpinned by expanding relationships with our key customers and have secured a number of new contracts that will drive our future growth.
"The first half reduction in net debt and leverage, coupled with our improving trading prospects, has given the board the confidence to raise the interim dividend. For the full year to 31 March 2011 we remain on track to meet our expectations."
