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Charterhouse Communications

Companies: CHO   
13/09/2000

Burgeoning growth is the most salient feature of acquisitive Charterhouse Communications. Yet again the financial media group reported record results with pre-tax profits rising 49% to £2.8m (£0.3m over broker forecasts) on a 47% increase in turnover to £12.07m. Now with 18 publications - and themoneypages.com website - the company is keen to shake off claims that it is leaning to a dotcom bias. Nevertheless, it is striving to use the internet to exploit cross-marketing oppportunities and increase repeat selling to blue chips. 'Keep it sticky' is a catch phrase well-loved by the management. In fact, Charterhouse claims a loyal subscriber base of 1 million and non-advertising revenues of just over 50%. Never content to rest on its laurels, however, Charterhouse's management is gearing up for fresh expansion. Independent Research Services was acquired for £8.4m and produced £0.7m of profits in its first 6 months. Chairman Brian Rowbotham commented that the sooner the next deal is done, the better.

Market cap: £52.2m
PE Average: 66.4
PE Forecast: n/a
PE Historic: 23.6
Share price: 46.5p

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