Solid results posted by Reliance

Turnover is up 6.1% at £310.3 million (the corresponding figure for 2004 having been £292.3 million), while pre-tax profits have risen 18.6% from £13.2 million to £15.6 million. Profit before tax is up by just over 50% at £18.6 million.

Commenting on the results, Group chairman Brian Kingham told SMT: “Market conditions in security have remained challenging in the run-up to regulation by the Security Industry Authority. We believe they will improve thereafter. Facilities management offers significant opportunities, and we have continued to invest and grow our share of what is now a £60 billion per annum market.”

The results follow hot-on-the-heels of the recent appointment of Julian Nicholls as group managing director with effect from 13 June (Appointments, Security Management Today, July 2005, p49). Commenting on the appointment, Brian Kingham added: “Julian brings to Reliance a record of success as a strategist and a developer of businesses. We have reached a scale and diversity within growing markets which offer us an opportunity to create higher added value products and services. This is where Julian has special skills.”