(Sharecast News) - Specialist cleaning, hygiene and decontamination company React Group reported a jump in full-year profit and revenue on Tuesday as it struck a positive note on the outlook.
In the year to 30 September 2022, adjusted earnings before interest, tax, depreciation and amortisation rose 20% to £953,000, while revenues jumped 78% to £13.7m. Revenues included a contribution of around £1.6m from commercial window, gutter and cladding cleaning business LaddersFree, which React bought in May for £8.5m.
React said like-for-like organic growth was "strong", up around 17% during the year.
Chief executive Shaun Doak said: "We are delighted to report a strong financial performance for the year. The acquisition of LaddersFree has been transformational as it continues to win new blue-chip clients.
"The transaction has not only broadened the group's offering but has enabled the business to cross sell other business services into existing and new customers. This was evident in the recent new £800k contract win to provide services from all three segments of the business through a coordinated programme to a large fast-service food restaurant across all its sites in the UK."
Doak said the board was confident in the outlook for the business, as strong demand for its services has continued into the current year.
React Group (REAT)