Published on: May 19, 2022
Full-year results demonstrate underlying growth
CEPS has delivered strong underlying growth despite the impact of lockdown regulations in the first half of the financial year. Group turnover rose by 70% to £20.3m (FY20: £11.9m), representing growth of 62% over the pre-pandemic FY19 trading year. Full-year performance has benefitted from strategic restructuring over the past three years. FY21 results demonstrate that CEPS is now a transformed entity, with its first ‘clean’ set of full-year results. We are encouraged that all the subsidiary segments and the associate have been profitable. This profit improvement suggests that CEPS’ restructuring and focused ‘buy and build’ strategy is proving successful, coupled with a recovery in underlying markets. The Chairman’s comments strike a confident and enthusiastic tone, confirming progress across all businesses and pointing to the Group’s growth trajectory.