Servelec CEO remains confident despite challenges

The chief executive of technology group Servelec today said his company had a strong order book and faced improving market conditions.

Alan Stubbs, CEO of Servelec
Alan Stubbs, CEO of Servelec

The company’s revenue for the year ended December 31 2016 was £61.0m, compared with £63.1m the year before and underlying operating profiit was £14.6m, compared with £16.2m in 2015.

Sign up to our Business newsletter

Servelec said the results are in line with its revised expectations, and it had taken action to reallocate resources, strengthen sales and the divisional management team.

Alan Stubbs, the chief executive, commented: “During 2016, Servelec made significant strides forward in terms of product development, acquisitions, market development and staff development.

“Whilst challenges persist I am confident in the future outlook for the group, with a strong order book and improving market conditions.”