Supply business strong performer for Spice

A STRONG performance from its supply business has helped keep Spice on track.

The Leeds-based services group said that trading for the period to October 31 was in line with board expectations and that it was still anticipating a greater “weighting of profits” in the second half.

Spice said that its utility activities, particularly electricity and water within its distribution business, had performed well and were well placed to benefit from regulatory spend programmes currently being finalised.

However, it said that the wider economic environment had proved “quite challenging” for gas and facilities when compared to the strong performance during the same period last year.

The group is expecting an improvement in the second half following management changes and restructuring.

It added that integration of Com Group continued to progress to plan.

In a statement it said: “The board’s strategy is to increase the group’s long term exposure to markets, which have strong underlying regulatory and environmental drivers. The board remains confident of Spice’s future prospects.”

Spice will announce its interim results in December.