Marlowe PLC Disposal of non-core assets (5583N)

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RNS Number : 5583N

Marlowe PLC

21 January 2019

Marlowe plc

Disposal of non-core assets

Marlowe plc ("Marlowe" or the "Group"), the support services group focused on acquiring and developing companies that provide regulated inspection, testing and compliance services, announces that is has sold certain non-core assets for a cash consideration of GBP2.3 million.

The assets comprise two contracts to produce specialist chemical products with applications in healthcare and clinical disinfection that were acquired as part of the Group's GBP4.5 million acquisition of Suez Water Conditioning Services Limited as announced on 28 August 2018.

In the year ended 31 December 2017 the two contracts generated unaudited revenues of GBP0.6 million and an estimated gross profit contribution of GBP0.2 million. The proceeds of the sale will be used for general corporate purposes.

For further information:

 
 Marlowe plc                          www.marloweplc.com 
 Alex Dacre, Chief Executive          Tel: +44 (0) 203 
                                       813 8498 
 Mark Adams, Group Finance Director   IR@marloweplc.com 
 
 
 Cenkos Securities plc (Nominated Adviser and Broker) 
 Nicholas Wells                       Tel: +44 (0)20 7397 
                                       8900 
 
 
 FTI Consulting 
 Nick Hasell                          Tel: +44 (0)20 3727 
                                       1340 
 Alex Le May

About Marlowe plc

Marlowe is a UK leader in specialist services which assure the safety and regulatory compliance of commercial properties, whilst managing risk for businesses across the country. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated inspection, testing and compliance services. It is focused on health & safety, fire safety, security, water safety, water treatment, air quality and environmental services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides services to over 10% of Britain's commercial properties and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated safety services. Our customers can be found in most office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

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