Updates

Carter & Carter - Buys two vocational learning businesses

June 2007

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Carter & Carter has announced two bolt-on acquisitions which were in train before the sudden death of chief executive Philip Carter. Bigger of the two is Constant Browning Edmonds (CBE) for £16.5m. CBE provides a range of work based learning to the retail sector in East Anglia and holds LSC contracts across the country to deliver Train To Gain and apprenticeship programmes. The other purchase for an undisclosed amount is Nottingham Engineering Training Association (NETA), which delivers engineering apprenticeship training in Nottingham. The acquisitions are expected to be eps enhancing from day one. Correction: A typo in last month's issue. Profit forecast for the current year should have read £23.3m and eps of 3 ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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