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Marlowe plc held its Annual General Meeting on 13 September 2023 and reported high single-digit organic revenue growth for the four-month period from 1 April 2023 to 31 July 2023. Since the start of the financial year, Marlowe completed five acquisitions totaling £35 million, and its Nominated Adviser and Joint Broker changed its name to Cavendish Securities plc.
| Date | 13 Sept 2023 |
| Time | 07:00:05 |
| Category | Trading updates |
| ID | 2318M |
13 September 2023
Marlowe plc
Annual General Meeting and Trading Update
Marlowe plc ("Marlowe" or the "Group"), the leader in business-critical services and software which assure regulatory compliance, provides the following trading update covering the four-month period from 1 April 2023 to 31 July 2023 (the "Period") ahead of the Group's Annual General Meeting ("AGM") to be held today at 10:00am BST at 20 Grosvenor Place, London SW1X 7HN.
Kevin Quinn, Non-Executive Chairman of Marlowe plc, will state at the AGM:
"The Group has started the year well with trading in line with expectations as it continues to deliver strong strategic progress, with high single digit organic revenue growth in the Period. We occupy resilient compliance service & software markets which demonstrate attractive structural growth. Since the start of the financial year, Marlowe has completed five acquisitions for a total enterprise value of £35 million, including the recent acquisition of IMSM, a key step in the Group's strategy to broaden its GRC capabilities into the highly complementary ISO certification market. We expect to continue to deliver strong performance with high single digit organic growth across FY24."
Change of Name of Nominated Adviser
The Company also announces that its Nominated Adviser and Joint Broker has changed its name to Cavendish Securities plc following completion of its own corporate merger.
For further information:
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Marlowe plc |
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Alex Dacre, Chief Executive |
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Adam Councell, Chief Financial Officer |
Tel: +44 (0) 203 813 8498 |
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Benjamin Tucker, Investor Relations Manager |
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Cavendish Securities plc (Nominated Adviser and Joint Broker) |
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Ben Jeynes |
Tel: +44 (0)20 7220 0500 |
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George Lawson |
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Berenberg (Joint Broker) |
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Ben Wright |
Tel: +44 (0)20 3207 7800 |
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Mark Whitmore |
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Stifel (Joint Broker) |
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Matthew Blawat |
Tel: +44 (0)20 7710 7688 |
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Francis North |
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FTI Consulting |
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Nick Hasell |
Tel: +44 (0)20 3727 1340 |
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Alex Le May |
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About Marlowe plc
Marlowe is a leader in business-critical services and software which assure regulatory compliance. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated safety and compliance services and software. It is focused on compliance software, eLearning, health & safety, employment law & HR compliance, fire safety & security, water & air hygiene and occupational health services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides software to over 1 million users and services to over 25% of Britain's commercial premises. The Group provides customers with a single outsourced, nationwide, provider of a range of regulated compliance and safety solutions. Our customers can be found in office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include thousands of SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.