Business
Acquisition & Trading Update
Acquisition & Trading Update.
About this update from Braemar Plc
[{"type":"text","content":"\n Braemar Seascope Group PLC\n22 March 2006\n\n\nFor immediate release 22 March 2006\n\n\n\n Braemar Seascope Group plc ('the Group')\n\n Acquisition of DV Howells and trading update\n\n\nThe Board of Braemar Seascope Group plc is pleased to announce the purchase of\nDV Howells.\n\n\nDV Howells is a leading UK pollution response business providing services\nprimarily to the marine sector but also to the rail network, police forces, the\nMinistry of Defence and others. It has 27 employees based in the UK at offices\nin Milford Haven, Harlow, Rotherham, Huddersfield, Falmouth, Didcot and Perth.\n\n\nThe Group will pay cash of £400,000 on completion and a further £150,000 over\nthe next 18 months to the current owner, Milford Haven Port Authority. In its\nfirst year as part of the Group it is not expected to make a significant\nfinancial contribution to the Group's profits but the Board expects that its\nmarine business will be capable of significant growth as part of the Braemar\nSeascope Group.\n\n\nAlan Marsh, CEO of Braemar Seascope Group plc, commented, 'We are delighted to\nwelcome DV Howells into the Group and look forward to working with the\nmanagement to expand the business in the future. The acquisition is another step\nin our overall strategy of building a broadly-based shipping services group.'\n\n\nCommenting on current trading Alan Marsh said, 'At the close of our financial\nyear to 28 February 2006 trading was strong and the final results are likely to\nbe somewhat ahead of market expectations. The new financial year has started\nwell with good business already concluded for this year and future years.'\n\n\n\nENDS\n\n\nFor further information, contact:\nBraemar Seascope Group plc\nAlan Marsh Tel 020 7535 2650\nJames Kidwell Tel 020 7535 2881\n\nAquila Financial Limited\nPeter Reilly Tel 020 7849 3319\n\nCharles Stanley Securities\nPhilip Davies Tel 020 7953 2000\n\n\n\n\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2313,"tagName":"div"}]