Andrews Sykes (GB:ASY) has released an update.
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Andrews Sykes Group PLC reported a decrease in annual revenue from £83.0 million in 2022 to £78.7 million in 2023, alongside a modest increase in operating profit from £21.5 million to £22.7 million, owing to effective cost management strategies. Despite challenging economic conditions, the company has realized a higher basic earnings per share and continues to generate strong cash flows, while strategically exiting the French market and investing in a new German subsidiary. Additionally, shareholders benefited from significant dividends, with further dividends proposed and a continuity of share buyback programs.
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