Marlowe (GB:MRL) has released an update.
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Marlowe PLC has refocused its strategy on the Testing, Inspection & Certification (TIC) markets, reporting a 4% revenue increase to £151.7 million for the first half of 2024. The company completed a £430 million divestment of its Governance, Risk & Compliance assets and demerged its Occupational Health division, significantly improving its balance sheet with net cash of £30.8 million. Marlowe continues to enhance shareholder value through a share buyback program and aims for organic growth and margin improvement despite potential near-term impacts from the UK Autumn Budget 2024.
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