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Programmed reports 5% fall in first-half income

Programmed reports 5% fall in first-half income

Programmed Maintenance Services (ASX:PRG) has posted a 4.7% dip in first-half profit to $12 million, due to profit declines at its workforce and property services divisions.

The company’s overall revenue fell 6.7% to $583 million over the period, with the revenue from property services falling 7% and workforce division revenue falling 20%.

But managing director Chris Sutherland said the results were fairly strong, considering economic conditions.

“When one considers the weak economic conditions in comparison with the corresponding prior period, the small declines of group revenue and profit are a good result,” he said.

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