Servelec bowled over by maiden year as listed business
SHEFFIELD-BASED Servelec Group is upbeat about the year ahead after a “good financial performance” in its first year as a listed business.
The group provides IT and services mainly to the UK healthcare, power and utilities sectors through its two divisions, Servelec Healthcare and Servelec Automation.
Its healthcare division, which is being renamed Health & Social Care following its acquisition of Corelogic for £23.5m in December, maintained an “excellent” success rate with its tender activity and the company said it has “a strong order book” for 2015.
Alex Moore will join the Automation division next month as managing director of Servelec’s power business, which will enable a greater focus on the oil and gas market as the falling price of oil presents opportunities for automation to be part of further cost reduction programmes.
Servelec’s chief executive Alan Stubbs said: “The group has produced a good financial performance in its maiden year as a listed business and made important operational strides forward.
“The outlook for our markets remains encouraging and we start 2015 with a clear strategy for growth. The recent acquisition of Corelogic delivers new potential for our Health & Social Care division, with our market leading positions in Mental and Community Health and Social Care providing us with a strong position from which to deliver integrated solutions that match market demand.
“The board is also confident about the scale of the opportunities for the Automation division and the further strengthening of our senior management team in this division will enable us to target new opportunities, both at home and internationally, maximising opportunities provided by our global distribution network.”
