Companies: VTS   

A recent trading statement from accountancy group Vantis offers soothing words to those who followed my May 2004 recommendation.

Growth has been ‘solid’ and its SME market has been ‘stable’, repeat business has been ‘encouraging’ and cash generation has been ‘in line’ with expectations. Management have agreed a roomy £44 million bank facility to take care of day-to-day business, organic growth and, even more interestingly, future acquisitions.

There is also mention of the move into private banking, with the new division led by former Barclays commercial director Brendan Horgan.

The group’s interims back in January were very strong, with profit almost quadrupling, and the company’s broker expects Vantis to produce a £12.7 million profit before tax on £85 million sales. At 212p, almost double my 115p tip, the shares are still a firm hold.

Vantis	AIM	£38.48m	68.50p	0.50p
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Other company articles:
Vantis			07/11/2008
Capitalising on the crunch			03/11/2008
Vantis			24/07/2008
Vantis remains unloved			08/02/2008
Vantis			11/01/2008