Acquisition & Trading Update
March 22 2006 - 2:01AM
UK Regulatory
RNS Number:1679A
Braemar Seascope Group PLC
22 March 2006
For immediate release 22 March 2006
Braemar Seascope Group plc ("the Group")
Acquisition of DV Howells and trading update
The Board of Braemar Seascope Group plc is pleased to announce the purchase of
DV Howells.
DV Howells is a leading UK pollution response business providing services
primarily to the marine sector but also to the rail network, police forces, the
Ministry of Defence and others. It has 27 employees based in the UK at offices
in Milford Haven, Harlow, Rotherham, Huddersfield, Falmouth, Didcot and Perth.
The Group will pay cash of #400,000 on completion and a further #150,000 over
the next 18 months to the current owner, Milford Haven Port Authority. In its
first year as part of the Group it is not expected to make a significant
financial contribution to the Group's profits but the Board expects that its
marine business will be capable of significant growth as part of the Braemar
Seascope Group.
Alan Marsh, CEO of Braemar Seascope Group plc, commented, "We are delighted to
welcome DV Howells into the Group and look forward to working with the
management to expand the business in the future. The acquisition is another step
in our overall strategy of building a broadly-based shipping services group."
Commenting on current trading Alan Marsh said, "At the close of our financial
year to 28 February 2006 trading was strong and the final results are likely to
be somewhat ahead of market expectations. The new financial year has started
well with good business already concluded for this year and future years."
ENDS
For further information, contact:
Braemar Seascope Group plc
Alan Marsh Tel 020 7535 2650
James Kidwell Tel 020 7535 2881
Aquila Financial Limited
Peter Reilly Tel 020 7849 3319
Charles Stanley Securities
Philip Davies Tel 020 7953 2000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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