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AssetCo operating profits rise

By BFN News | 08:06 AM | Tuesday 14 June, 2016

AssetCo reports an operating profit of £2.1m for the six months to the end of March (2015: £1.8m) on revenue of £11.0m (2015: £10.4m) and a profit before tax of £1.9m (2015: £1.5m). The group says the improvement in profitability has resulted from the increase in the number of fire service personnel being supplied to its Middle East Fire Service contracts. The Company generated £2.2m of free cash in the period and at 31 March it had total cash of £18.5m (£15.6m at 30 September 2015) comprising free cash balances of £15.5m (£12.8m at 30 September 2015) and restricted cash balances held in respect of bonds amounting to £3.0m (£2.8m at 30 September 2015). At 8:06am: (LON:ASTO) AssetCo PLC share price was +2.5p at 326.5p Story provided by

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