SME consultant RLF posts strong results, with profit up 74%
SME consultant Robinson Low Francis (RLF) is targeting doubling its turnover to 拢20m by 2020, after posting strong results for the year ending 31 March 2013.
In its results, RLF grew pre-tax profit by 74% to 拢1.3m, up from 拢770,000 the previous year, while turnover grew 12% to 拢10.2m, up from 拢9.1m.
RLF chief executive David Thomson said the firm would aim to achieve its 拢20m turnover target 鈥渙rganically more or less鈥�.
鈥淚 don鈥檛 see major mergers or acquisitions as necessary,鈥� he added.
Thomson said RLF鈥檚 results for the current year to 31 March 2014 were on course to 鈥渇latline鈥� as the firm delivers work on low fees agreed during the recession.
But he said he expected a return to 鈥済ood improvement鈥� in results from next year onwards.
In the year to 31 March 2013 Thomson said its regional offices in Glasgow, Manchester, Birmingham, Stevenage and Brighton 鈥渟tarted to see improvement鈥�, while the London office 鈥渃ontinued to perform well鈥�.
Over the period the firm鈥檚 part-owned project management subsidiary 3PM was 鈥減rofitable鈥� and turned over 拢1m in its first full year of trading.
Trading in RLF鈥檚 Malta subsidiary was 鈥渟table鈥� over the period, while its international division 鈥� which previously worked predominantly in Libya before the fall of Gaddafi鈥檚 government 鈥� continued to await an end to unrest in the country.
Thomson said RLF鈥檚 international division will now move its focus away from Libya to other 鈥渋ndividual projects鈥� in 鈥渟everal countries鈥� with existing clients.
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