Vantis interim revenues surge 79%
Consolidator reports huge revenue and profit growth following Numerica takeover
Vantis, the AIM-listed accounting company, has started to reap the benefits
from its £3.7m acquisition of former rival Numerica after reporting a 79%
increase in turnover to £33.2m for the six months to the end of October 2005.
The consolidator also enjoyed an 83% increase in profit before goodwill,
exceptionals, interest and tax to £5.5m as its operating margin climbed to 16.7%
from 16.4% as the integration of Numerica produced greater efficiencies.
Vantis chairman Paul Gourmand said the integration of Numerica had gone
according to plan and he was optimistic over the group’s future.
‘Prospects continue to be encouraging in a broadly stable market and we are
well positioned for further growth as we continue our strategy of selecting
suitable businesses and teams of individuals from a strong pipeline of
opportunities,’ said Gourmand.