AUS
NZ
UK
CA
USA
IND
Highlights
- Driven by valuable acquisitions and organic growth in the segment of TIC, MRL’s revenue surged by 12.7% in H1 FY24 compared to pcp.
- Net cash generated from operations increased by 21.7% backed by an improvement in operating cash delivery.
- The group foresees mid-single-digit organic revenue growth, bolstered by the accumulation of revenues from recent acquisitions.
Marlowe PLC (LSE: MRL) offers a wide range of compliance software and services for businesses. The business segment of the FTSE AIM 100 Index-listed company has two main divisions:
- Testing, Inspection & Certification (TIC)
- Governance, Risk & Compliance (GRC)
Driven by valuable acquisitions by the company and 6% organic growth in the segment of Testing, Inspection, and Certification (TIC), MRL’s revenue surged by 12.7% in the first half of FY24 compared to the previous corresponding period (pcp). Similarly, net cash generated from operations also increased by 21.7%, backed by improvement in operating cash delivery since H1 cash eased up in the second half of FY23.
Recent business update
As per the interim results of the company (for the six months ended 30 Sept 2023), MRL is strategically positioned with 36 M&A transactions worth. Through the acquisition of IMSM, the company achieved a long-term expansion goal which further offered compliance with ISO certification and audit.
Company outlook
The company's outlook improved significantly through adherence to regulatory guidelines and provision of non-discretionary services. Additionally, a substantial portion of the consolidation efforts is expected to conclude by the end of FY24, leading to a notable reduction in restructuring activities in FY25 and beyond. As a result, the group foresees mid-single-digit organic revenue growth, bolstered by revenues from recent acquisitions.
Top 10 Shareholders
The top 10 shareholders together hold approximately 56.07% of MRL's total shares. Lord Michael Anthony Ashcroft holds the maximum number of shares with ~12.27% shareholding, followed by Octopus Investments Limited with ~7.99% shareholding, as depicted in the chart below:
Stock performance
The share price of MRL has dipped by around 7.22% in the last one month and over the last six months, it has decreased by around 11.91%. The stock has a 52-week low and 52-week high of GBX 310.00 & GBX 680.00, respectively. It is currently trading around the average of 52-week high-low.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 29 April 2024. The reference data in this report has been partly sourced from EODHD/Others.
