It trades at a discount to its peers, its cheap at less than 12 times prospective earnings, Investors Chronicle tipped it as one of those shares that you could safely put away for a year and be almost be guaranteed a profit. It will gain from the consolidation of the accountancy profession at the highly fragmented "small" end of the market. Is semi recession proof as it will get increased liquidation fees in an economic downturn, the highly respected Artemis are shareholders and continue to buy. It is up by more than 15% since the new year and the trend is your friend. Nobody will double their money quickly however, by giving it to bean counters.

More belting results. last year's were followed by broker upgrades and a near 30% rise. Same again would be nice!!

not too bad for a dull old accountant - well done VTS!

Extracts:
Turnover up 83% to 71.2 million (2005: 38.9 million).


Profit on continuing activities before interest, tax, goodwill
amortisation and exceptional items up 97% to 12.8 million (2005: 6.5
million)


Profit on ordinary activities before taxation (after discontinued
activities, goodwill amortisation and exceptional items) up 13% to 4.5
million (2005: 4.0m)


Operating margin on continuing activities before goodwill amortisation
and exceptional items of 18.0% (2005: 16.7%)

Final dividend proposed of 3.3 pence per share, making a total for the
year of 4.8 pence per share (2005: 3.9 pence), an increase of 23%

I am pleased to report that the Group has continued to perform in line with our
expectations since the year end.

From the sound foundation of our core practice we are well positioned for
further strong growth, particularly in business recovery and taxation where we
are gaining an excellent reputation for our market leading expertise. We will
continue to strengthen the business by selecting suitable businesses and teams
of individuals from a strong pipeline of opportunities.

Thinking of getting into this sector, along with VTS there is BEG and TNO, I've done some research and think VTS is my choice, has anyone got a view on the sector who would share their thoughts. Thanks.
2517

Decided on TNO, not sure why but there you go. I think this will be a more active thread in the near future, as more co's go to the wall so the income for the likes of VTS, BEG and TNO will increase substantially. AIMO of course.
2517

2517 - you might have a look at INVO. More a debt recovery outfit than pure accountancy, based in Scotland, but check their website and you will see that they are very different from some of those south of the border who have hit big trouble. Moving into corporate recovery and their track record/strong balance sheet (no debt) has encouraged me to have a punt recently at average 90p. Not for widows and orphans, but has a good feel about it to me. Always DYOR.

partridge-----thanks I will take a look, TNO have increased their exposure to the recovery and insolvency sector. Sorry for being off thread, will post on TNO thread in future. Good luck all.
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