The AIM-listed accountancy firm released an upbeat trading update last week,
advising that final year profits were in line with expectations. Vantis stock,
however, fell 2.77% to 245.5p on the back of the news.
Ben Archer, an analyst at Charles Stanley, said the drop in Vantis’ stock
price was not ‘untoward’ and did not reflect on the group’s prospects.
‘Vantis had a very good run leading up to the trading statement on Friday and
the drop in the share price was probably due to a bit of profit taking. The
volumes were very small and there were just a few sellers, which was enough to
lower the price,’ Archer said.
In its trading statement, Vantis said the integration of Numerica and Booth
Anderson Chester, both acquired last year, had been completed and that cost
savings from IT human resources, marketing and finance had been realised.
The group added that the market for accountancy, tax, business recovery and
consultancy was stable and offered opportunities for growth.
With regards to its acquisition of Rouse & Co at the end of April, Vantis
said it was continuing to grow through acquisition and that the Rouse & Co
purchase strengthened its geographical presence.
Analyst Simon Brett, from Edison Investment Research, said the deal would
bring extra revenues of £3m.
Vantis will release its final results on 19 July.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements