Vanco figures up

Vanco just posted good revenue figures for H1 although not on its website yet. Stated turnover up 31% and good gross margins too. But watch for cash flow margins down from 13.0% to 9.1% (this is a managed services business not just a VNO - managed services is more expensive) and double check the order book. Contracted total is up 19.0% to 327 mil GBP year on year but hasn't moved since January this year.