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CART Carter&Cart

82.50
0.00 (0.00%)
16 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Carter&Cart LSE:CART London Ordinary Share GB00B05K7697 ORD 4P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 82.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Acquisitions

18/05/2007 8:01am

UK Regulatory


RNS Number:8346W
Carter & Carter Group PLC
18 May 2007


For immediate release                                                18 May 2007


                           Carter & Carter Group plc


         Carter & Carter makes two acquisitions in vocational learning


Carter & Carter Group plc ("Carter & Carter" or "the Group"), the leading
provider of learning solutions and outsource support services, announces that it
has made the following acquisitions which further enhance the Group's market
leading position in the vocational learning sector:

     Constant Browning Edmonds Limited; and

     The training operation of the Nottingham Engineering Training Association
     Limited

These acquisitions are expected to enhance earnings in the first full year of
ownership.


Constant Browning Edmonds Limited

Carter & Carter is acquiring the entire issued share capital of Constant
Browning Edmonds Limited ("CBE Limited") for cash consideration of #16.5 million
from its five shareholders. Two of the shareholders, the current Managing
Director and the Director of Strategy will continue with the business following
the acquisition.

CBE Limited, which employs around 145 staff, is a leading provider of work based
learning to the retail sector. The company holds LSC contracts across the
country to deliver Train To Gain and apprenticeship programmes.

CBE Limited is a high quality provider having achieved a grade 2 in its recent
inspection by the Adult Learning Inspectorate.

In the year ended 31 July 2006, CBE Limited generated profit before tax of #1.2
million on revenue of #4.2 million and had gross assets of #1.1 million at that
date.


Nottingham Engineering Training Association

Carter & Carter is acquiring the training operation of the Nottingham
Engineering Training Association Limited ("NETA") which includes a modern
freehold engineering training facility. The business being acquired had gross
assets of #0.9 million at 31 August 2006.

The NETA operation employs 13 staff and primarily delivers apprenticeship
training to learners who work for engineering companies in and around
Nottingham.

Commenting on the acquisitions, Rodney Westhead, Chairman, said today:

"I am delighted to announce these acquisitions which provide a further
demonstration of our stated strategy to focus on key sector areas which include
engineering and retail "

A conference call for analysts will be held at 10.00 a.m. on 18 May, hosted by
Rodney Westhead, Chairman, Peter Marples, Group Business Development Director
and John Green, Group Finance Director.


Dial in details as follows:

Dial in Number: 01452 555 499
Participant Pin: 088212#


For further information please contact:

Peter Marples
John Green
Carter & Carter Group plc                                          0115 945 7226

Mark Edwards
Buchanan Communications                                            0207 466 5000




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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