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UK – Servoca results in line with expectations

18 April 2011

Servoca Plc (SVCA:LSE), the specialist outsourcing and recruitment solutions provider, has today published a trading update. The company says in a statement:

"The board is pleased to report that results for the first six months will be in line with management expectations and positions the group favourably for the second half."

"There is some encouraging progress in developing the group's outsourcing activities, in particular the Domiciliary Care business, which is trading ahead of internal expectations. The investment made in the group's outsourcing businesses remains the focus in mitigating the group's historic reliance on public sector recruitment activities."

Servoca provides staffing in three core areas: education, healthcare and security.

Servoca will announce its interim results to 31 March 2011 in mid June 2011.

As of last trade, Servoca's shares traded at 7.25 Pence, +81.25% above the 52 week low of 4 Pence set on 5 April 2011.