2ergo trades in line
MOBILE phone technology group 2ergo will today tell shareholders that it is pressing ahead with its acquisition strategy as it continues to trade in line with expectations.
In a statement today, 2ergo said: “Together with new contract wins in the UK, growth is further underpinned by the group’s expansion into India via the recruitment of ActiveMedia Technologies to its business partner programme together with the proposed acquisition of Broca and the relocation of its head office to Media City in central Manchester.
“In addition, the board continues to actively pursue several other global acquisition opportunities and looks forward to continued success in the remainder of the year.”
The Rawtenstall-based business, which which helps companies use mobile phones to trade and market services, saw pre-tax profits rise 33% to £3.4m in the year to August 31.
The group is also planning to buy back Broca, the subsidiary it demerged two years ago, at less than a third of the price.
2ergo is offering 12.5p a share, giving Broca a market value of £4.9m. Its demerger value was £19m.
The group expects to announce its interim results for the six months to 28 February 2009 in mid May.
