16th Feb 2006 07:30
P&MM Group PLC16 February 2006 P&MM Group plc ("P&MM") Acquisition P&MM today announces that it completed the acquisition of The Voucher Shop, atrading division of FHSC Limited ("The Voucher Shop"), from the Administratorsof FHSC Limited on 15 February 2006. The Voucher Shop fulfils vouchers inrespect of employee flexible benefit and incentive programmes for blue chiporganisations. P&MM has paid a cash consideration of £146,500 for the trade of The VoucherShop, which was established in 1992. Liabilities of £64,000 in respect ofcustomer contracts have been assumed. Unaudited management accounts provided by FHSC Limited indicate that The VoucherShop had a turnover and a profit before tax of approximately £12.9 million and£218,000 respectively for the year ended 30 June 2005. Colin Lloyd, Chairman of P&MM, said: "I am delighted to welcome The Voucher Shopinto our group. This acquisition is an excellent fit with the activities of ourMotivation and Incentive division and opens up significant opportunities movingforward into 2007. The Voucher Shop will be maintained as a separate brand, butthe business will be relocated to the group's main operation centre in MiltonKeynes." ENDS For further information, please contact: P&MM Group plcSue Hocken, Finance Director Tel: 01908-352007 Binns & Co PRPeter Binns Tel: 020-7786-9600 Editor's Notes: P&MM has three operational divisions: - motivation and incentive programmes -incentive travel, conference and event management - sales promotion and HRbenefits products. Clients in motivation and incentive programs include BritishGas, Volvo and Hewlett Packard; in incentive travel, Norwich Union, ScottishWidows and Toshiba; in conference and event management, Land Rover, DaimlerChrysler and Toyota; in sales promotion, UCI; and in employee benefits, SouthernWater, Rugeley Power, Propencity, Nottingham City Council. www.p-mm.co.ukwww.thevouchershop.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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