Leading supplier of corporate uniforms and workwear across a broad range of business sectors Alexandra plc announces interim results for the six months ended 31 July 2006.
The Board is pleased to report continued progress in the first six months of the year, with revenue growth of almost 14 percent and adjusted earnings per share up over 21.7 percent.
The two debt funded acquisitions made in 2005, Prima Corporate Wear Ltd and de Baer plc have accelerated top line growth, in line with our strategic objectives and enabled the excellent earnings performance through leverage of fixed overheads, although the integration of the acquisitions has proved longer and more complex than previously anticipated. This temporarily deflected some focus from the business as a whole, but the integration is now largely complete and the benefit is already being seen in the second half.
The Board has declared an interim dividend of 2.1 pence (2005: 1.9 pence), an increase of 10.5 percent, reflecting the strong underlying earnings growth reported and its confidence in the future potential of the business.
Alexandra is a leading supplier of corporate clothing across a broad range of business sectors including transport, security, hospitality and catering, health and utilities. The Alexandra Group is a service-focussed business that designs, procures and distributes company and professional clothing.