‘In-line trading statement for 2013, plus an acquisition’, Charles Stanley Securities reports
Pubished 27th November 2013
Earlier today Charles Stanley Securities released a very positive 2013 In-line trading statement for InterQuest. The report came on the back of the news of InterQuest’s announcement today of their acquisition of leading Digital Recruitment company ECOM.
Among the observations in the report, Charles Stanley Securities commented:
‘Today’s in-line trading statement confirms the changes introduced in 2012 have been a success implying operating profit growth of 33% for 2013. InterQuest has also announced the acquisition of ECOM, a leading digital recruitment specialist for an initial consideration of £5.6m representing an adjusted EBIT acquisition multiple of 6.2x. Following the acquisition we now expect operating profit to increase by 66% in 2014 (prior to the acquisition we expected operating profit growth of 28% in 2014).’