Incepta Group Mulls Rights Issue to Fund US and European Growth

09 May 2001

London-headquartered Incepta Group, whose interests range across public relations, direct marketing and sales promotion, is mulling an appeal to shareholders for funds to expand in Europe and the USA.

Incepta says it has already identified potential acquisitions in Belgium, France and Spain, and is eager to reinforce last year’s purchase of New York PR firm Sard Verbinnen and Cunningham Communications.

According to executive chairman David Wright, thr group has debts below £10 million with a £65m line of credit established last year. But he would consider an appeal to shareholders for additional funds if necessary: “It would be an option if we had a £200 million acquisition and if it made sense.”

News of Incepta’s ambitions accompanied its annual results. The group posted pre-tax profits almost doubled to £27.2m for the year to February 28. Sales increased nearly 50% to £265.7m.

News source: The Times Business News (London)