Harrogate on acquisition trail
Article Date: Nov 15 2000Cash shell Harrogate, which raised £1.2 million with an Aim float in June, announced solid interim profits of £462 today.
Turnover for the six months to September was £11,500. Chairman Bob Holt - also of support services business Mears - believes 'the group is in its infancy with an exciting future ahead'.
In September, Harrogate acquired Axiom Internet Group for £6.9 million in shares. Axiom made pre-tax profits of £43,000 on turnover of £295,000 in the twelve months ended September.
In the same month, Firmgrowth was acquired for £420,000, with an exclusive 30 year agreement to provide goods and services to the National Union of Students. In return, Firmgrowth's owners took 14 million shares in Harrogate for £420,000.
The shares were unchanged today at 2.5p.
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