PraxisIFM publishes latest interim results

Posted: 27/01/2020

Cees Krijgsman_PraxisIFMPraxisIFM has published its unaudited interim report and accounts for the half year ended 31 October 2019. The highlights include the following:

• Revenue for the period was £35.8m (2019: £31.9m), up 12% compared with the same period in the prior year.

• Growth has been achieved through a blend of 4.5% organic growth, driven by a strong pipeline and the full half-year effect of the ownership of Nerine and Jeffcote Donnison.

• EBITDA has decreased to £5m (2019: £6.1m).

• Adjusted EBITDA, as defined in the annual report, was £6.6m (2019: £6.9m).

• The  activities  of  the  group  over  the  period  focused  on  the  integration  of  recent  acquisitions, accelerated development of the technology platform and organic growth.

PraxisIFM Group Chief Executive Officer Cees Krijgsman (pictured) commented: "The group continues to generate a good new business pipeline, which is reflected in our ongoing organic growth.

"Work to integrate our acquired businesses continues, as does investment in our systems and people. The group now has significant geographical diversification and continues to deliver organic growth in our core businesses."

According to the firm, a further announcement regarding a dividend will be made during February.

• To download the full report click here

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