Business Strategy

16 Jun 2005 10:06

Prime People PLC16 June 2005 Prime People Plc (the "Company") The strategy of the business as set out in the 2004 Annual Report despatched toshareholders in March 2005, is to broaden the business base of the companythrough acquisition in the short to medium term. The objective of this strategyis to create shareholder value as measured by growth in earnings per share andcashflow. Following the appointment of Simon Murphy as chief executive in May 2005, thedirectors have undertaken an initial strategic review. As a result of thisreview, the Company intends focussing upon the industrial and business servicessectors and identifying opportunities in the valuation range of £1m to £20mwhich require subsequent investment to enable them to continue to realise theirpotential over the longer term. Investment may be in support of, for example,geographic or product expansion or the introduction of value added services.Preferred criteria will be that the businesses are headquartered in the UK, areprofitable and cash generative on an ongoing basis and are capable of beingoperated on a standalone basis with operational management who will transitionwith the business. The interim results for the Company for the six months ending 30 June 2005 willbe released in August. This information is provided by RNS The company news service from the London Stock Exchange