Restore Plc (RST.L) on Tuesday revealed lower profit in the first six months of 2025, impacted by higher cost of sales and increased administrative expenses. Adjusted profit and revenue, however, rose from last year, helped by acquisition gains. The company also raised its interim dividend for the six-month period and reaffirmed its fiscal 2025 outlook.
The British support services company reported statutory profit of 3.3 million pounds or 2.4 pence per share in the first half of the year, down from 6.4 million pounds or 4.7 pence per share in the same period last year.
Statutory pre-tax profit declined 36 percent to 5.5 million pounds from 8.6 million pounds recorded in the year-ago period.
On an adjusted basis, profit rose to 13.5 million pounds or 9.8 pence per share in the six-month period, from 12.2 million pounds or 8.9 pence per share in the previous-year period.
According to the company, adjusted pre-tax profit came in at 18.0 million pounds, up 10 percent from last year's 16.3 million pounds.
Half-yearly revenue climbed 15 percent to 160.1 million pounds from 139.4 million pounds in the simultaneous period of 2024, helped by the acquisitions made during the period, with the high proportion of recurring storage income in Information Management continuing to support overall revenue.
The company declared an interim dividend of 2.2 pence per share for the first half of the year, which is higher than last year's 2.0 pence per share. The dividend will be paid on October 22 to shareholders on the register on September 19.
Looking ahead, Restore Plc said that its fiscal 2025 expectations remain unchanged and it is confident of achieving its medium-term target of adjusted operating margins of 20 percent.
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