12 August 2010 – disposals

The group has announced the disposal of three small subsidiaries as part of its restructuring programme.  The sale, for £0.6m in cash, will have little impact on the group’s net debt position but will remove loss-making businesses from the group and will allow management to focus on its core activities.  Although shares in the group remain very speculative, this is another positive move and any readers who hold the shares should probably HOLD.