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Servoca

  • BY: Andrew Hore |
  • POSTED: 30/10/2010 |

Servoca says that trading was in line with expectations in the year to September 2010 but its most recent acquisition is doing even better than expected. 

The educational, healthcare and security recruitment and services company bought domiciliary care and nursing services provider Phoenix Employment Services for £990,000 in the middle of August. Phoenix has been integrated and it is performing ahead of initial expectations. Revenues were £5.2m in the year to July 2009 and they were generated from three locations in the Midlands and the Home Counties, which supply the NHS, Primary Care Trusts and the private sector.

The public sector is an important source of revenues and the outlook is challenging. Servoca is looking at additional opportunities to widen the revenue base in outsourcing and recruitment services.

At 9.5p a share, Servoca is valued at £11.7m.

The full year figures will be published in late January.

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