Updates

Alternative Networks - Buys PBX installer

October 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.

Business-to-business communications reseller Alternative Networkshas acquired The Telecom Centre, trading as Echo Communications, forÂ£14.3m. The upfront consideration is Â£12m (Â£11m cash plus shares at169p) with the remainder based on Echo's performance over the next 12months. Based in Earlsfield, not far from Alternative's offices in Clapham,Echo installs and maintains business telephony equipment. In the yearto 31 March, it had sales of Â£15.4m (of which Â£3.2m were from repeatmaintenance contracts) and made an operating profit of Â£1.1m. Two thirds of Echo's turnover comes from selling and maintainingphone systems, making it a highly logical fit in Alternativeâ€™smigration towards the sale of larger, fully-conver ...

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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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