News & Press
Revenues and profit jump as Group integrates acquisitions. Two further acquisitions completed
28th September 2007
Hasgrove plc (AIM: HGV, ‘Hasgrove’, “the Group”), the pan European marketing and communications services group, announces its interim results for the six month period to 30 June 2007 and two acquisitions.
- Turnover increased by 115% to £10.1m (2006: £4.7m*)
- Gross Profits increase to £6.9m (2006: £2.8m*)
- Headline PBT jumps by 147% to £1.2m (2006: £0.5m*)
- Headline basic EPS up by 47% to 4.6p (2006: 3.1p*)
- Net cash at 30 June 2007 £2.2m (2006: net debt £1.2m)
- Acquisition of Cabinet Stewart, leading EU Public Affairs consultancy in January 2007
- Acquisition announced today of Pavilion Communication Services, a digital marketing agency, for a maximum consideration of £9.9 m – see separate announcement
- Acquisition announced today of Odyssey Interactive, an intranet solutions provider, for an estimated consideration of £3.7m – see separate announcement
- New £10m facility with KBC Bank available for further acquisitions
- Maiden dividend planned for year to 31 December 2007
- Comparative figures for 2006 represent results from the four month period to 30 June 2006.
Rod Hyde, Group Chief Executive, said:
“This has been a very busy period for the Group and we have made substantial progress towards implementing our strategy. In addition to making further important acquisitions we have also made considerable investments in organic growth.
“The two acquisitions announced today give the Group an exceptionally strong digital focus. Although these companies are extremely successful in their own right, they will benefit further from being part of the Group.
“We are committed to ensuring that all our companies have a digital capacity. Today’s acquisitions will support this process and also provides the resource that will allow Group companies to promote in-house solutions that were previously beyond scope.”
Rod Hyde, Group Chief Executive 0161 817 4200
Paul Sanders, Group Finance Director
KBC Peel Hunt
Capel Irwin/Richard Newman 020 7418 8900
Adrian Duffield/Ben Way 020 7457 2020