Tech firm Servelec expecting full-year results to be positive

Technology group Servelec expects full-year results to be in line with market expectations.

In a trading update for the year ended December 31, the Sheffield-based technology business said it had continued the good progress and momentum it has reported to date, following its IPO in December 2013.

Alan Stubbs, chief executive of Servelec, said: “We are delighted to have completed our first full year of trading in line with market expectations for the busi-ness.

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“The group has produced a good financial performance in its maiden year as a listed business and made important operational strides forward.”

Positive tender activity continued in the healthcare division after Servelec had been named the preferred bidder to provide IT services at 17 NHS trusts.

The firm also acquired Corelogic, which provides social care case management software and financial services, in December 2014.

Mr Stubbs said: “The outlook for our markets remains encouraging and we start 2015 with a clear strategy for growth.

“The recent acquisition of Corelogic delivers new potential for our Health & Social Care division, with our market leading positions in Mental and Community Health and Social Care providing us with a strong position from which to deliver integrated solutions that match market demand.”

Servelec anticipates releasing its preliminary results for the year ended December 31 on March 11.