CLS profits down in 2017 as firm invests
Settled volumes continue to grow year-on-year and underlying profits are in line with expectations, Puth says
Profits at settlement utility CLS dropped markedly in 2017, as the infrastructure provider embarked on an ambitious programme of investment, including new growth initiatives, according to the company’s earnings report.
Profits after tax stood at £16 million in 2017, compared with £42 million in 2016. On an underlying basis, the picture was more positive with a profit of £23 million versus £26 million for 2016.
“2017 was a pivotal year for CLS. Recognising the opportunity to deliver more for
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