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Servoca

  • BY: Andrew Hore |
  • POSTED: 18/10/2009 |

Servoca says that its results for the year to September 2009 will be “comfortably ahead of expectations.

The educational, healthcare and police recruitment and services provider will beat the profit forecast of £2m. No tax charge is expected because of past tax losses. All divisions are contributing profits.

Servoca intends to increase costs by £300,000 in the current year in order to expand its operations so house broker FinnCap has cut its 2009-10 profit forecast from £3m to £2.7m.

At 19.5p a share, Servoca is valued at £23.1m. The share price has doubled in the past six months. Servoca raised £5m at 8p a share in March 2009.

The full year figures will be published in January 2010.

The shares are trading on nine times forecast 2009-10 earnings. 

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