PracticeAuditVantis profits and turnover soar

Vantis profits and turnover soar

AIM listed accountancy group Vantis announces 59% turnover increase and 52% climb in profits for 2004/2004

Vantis has delivered impressive increases to turnover and profits before
interest, tax and amortisation, which increased by 59% to £37.7m and 52% to
£7.9m respectively.

The AIM-listed accoutancy firm said it had successfully delivered organic
growth, but had also been boosted by its acquisition of Numerica.

‘Following another year of excellent progress, the acquisition of Numerica
consolidates further our market position with additional new recruits and by
strengthening the group’s services,’ said Vantis chairman Paul Gourmand.

Vantis paid £15.8 for former rival Numerica and then sold three of the nine
Numerica offices to BDO Stoy Hayward for £12.1m. The group benefitted further
from a full year’s trading at Redhead French, McBrides and Wheawill &
Sudworth – acquisitions made in the previous financial year.

Gourmand said the group’s strong performance was a testament to Vantis’
ability to ‘integrate acquisitions and recruit high quality staff’.

‘Careful integration of businesses and teams into a strong common culture and
infrastructure is key to our strategy for profitable growth,’ said Gourmand.

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