Published on: October 11, 2022

Solid H1 22 but cautious outlook

CEPS has delivered solid H1 22 results, for the six months ended 30 June 2022, against a weaker comparative period that was impacted by lockdown restrictions. Total revenue increased by 45% to £13.0m (H1 21: £9.0m) and operating profit by 15% to £930k (H1 21: £809m). The subsidiaries have made good progress following the restructuring measures over the past three years and the ‘buy and build’ strategy is proving successful. However, given the worsening economic situation, management has flagged that ‘caution is our watch word’ and the companies are being managed accordingly. CEPS has not been immune to issues with product availability, labour shortages and sharply rising input costs. In particular, management is looking to automate processes where possible, over the longer term, to reduce costs.