Web Site : http://www.hasgrove.com/

Hasgrove is the parent company of some of the best communication brands in the United Kingdom and Europe.

Hasgrove offer their clients high quality consultancy and implementation at affordable prices across a range of disciplines from brand design to creative advertising; public relations to European public affairs; from on-line marketing to new media development and even, TV and broadband as well as corporate video production.

Hasgrove operates through 3 well-established independent brands and their related companies: Interel based in Brussels, Paris, Prague and Antwerp offers expert corporate PR and PA advice and knowledge; The Chase is one of the best design agencies in the UK based in Manchester, London and Preston; while Connectpoint offers an integrated marketing and advertising mix from its Manchester city centre headquarters.

Hasgrove believes in attracting best of breed companies into the group and offers those companies the opportunity to benefit from the companys management and financial ethos which includes a growth strategy based on brand development, careful expansion and investment in management and people.


Shares in Issue : 18.59m

Major Shareholders :

Godfrey Taylor Director 10.8%
Octopus Asset Management 9%
Stephen Rodgers Director 8.1%
J-L Schuybroek Director 6.8%
Unicorn Asset Management 6.7%
RB Casey Director 3.9%
R McLoughlin Director 3.7%
Rod Hyde Director 3.5%
Universities SS 3.2%

The GCI April update is below :

http://www.growthcompany.co.uk/recommendations/254716/hasgrove.thtml


Hasgrove - STRONG BUY

Companies: HGV

12/04/2007
Progress has been maintained at Hasgrove, the pan-European marketing and communications counter recommended here at 144p in February.

The Manchester and Brussels-based group joined AIM with a 6.25m funding at 120p in November and subsequently impressed with preliminary numbers for the ten months to December 2006, delivering strong sales and profits surges for a transformational 2006. On a 200% plus revenue rise to 15.3m, pre-tax profits powered ahead by 156% to 1.8m, with earnings surging 74% north to 9.2p the year-end balance sheet was flush with 3.5m of net cash.

Readers may recall Hasgrove is the holding vehicle for a diverse batch of niche, though profitable and highly cash generative, ventures providing services across the public affairs and PR markets, as well as in advertising, graphic design and digital online marketing.

The three core brands are Connectpoint, The Chase, and Interel, the European public affairs and corporate communications consultancy that works with clients like Cisco, Weight Watchers and Shell and which has been benefiting from a burgeoning number of multinationals headquartering in Brussels. Recent acquisition Cabinet Stewart has proved highly complementary to Interel and given Hasgrove a leadership position in the fast-growing EU public affairs consultancy market.

Boasting balance sheet strength as well as a profitable portfolio of businesses, Hasgrove has acquisition targets in its sights and says investors can expect a maiden dividend from results for the year to December 2007. Based on forecast profits of 3.4 million and 12.1p of earnings for 2007 numbers now looking decidedly conservative the shares are swapping hands for less than 13 times estimated earnings. Thats undemanding and we remain fervent fans. Keep buying.