Amcomri Group PLC (LSE:AMCO), the UK and Ireland-focused engineering services and manufacturing group, expects first-half revenue to rise 33% to about £42.4 million.
Adjusted earnings before interest, tax, depreciation and amortisation are expected to increase 9% to about £4.7 million in the six months to 30 June.
Profit after tax is forecast at about £7.3 million, compared with £1.5 million a year earlier, while net debt fell to about £2.9 million from £11 million.
The improvement came as demand remained strong across Amcomri’s core markets and recent acquisitions contributed to performance, while continuing operations generated revenue of £36.2 million, up 40%.
Amcomri also strengthened its electrical infrastructure operations by acquiring the National Compliance and Testing division from SSE, through newly established subsidiary GridCore Electrical Services.
The company sold Premier Limpet, the UK’s largest independent manufacturer of printed and plain adhesive tape, to Dalpo Group for at least £10.1 million, including £7 million in net cash proceeds before additional consideration.
The disposal gives Amcomri additional funds to pursue acquisitions under its “Buy, Improve, Build” strategy, which targets specialist engineering and industrial businesses with scope for operational improvements.
The group acquired North West Transport Supplies in July, after the reporting period, extending its engineering services operations into the rail sector and adding expertise in safety-critical electro-mechanical and control equipment.
Amcomri will publish its interim results on 15 September, when it will provide further details on its first-half performance and outlook.