Insurance broking, financial services and healthcare specialist CBG is maintaining its acquisitive progress with the purchase of Howgud, holding company for Oldham-based insurance broker and financial services provider EDN, for up to £2.22 million. CBG, which recently announced a 60 per cent annual pre-tax profits increase to £1.6 million, is paying an initial £1.2 million, plus an earn-out if certain targets are met.

Based in Manchester, AIM-quoted CBG recently bought London insurance broker Marcus Hearn for £2.7 million and paid £1.8 million for North Western broker Barclay Brown. Laurie Turnbull, CBG’s chairman, sees ‘real benefits from consolidation and integration’ and has so far won shareholder support for ‘earnings-enhancing’ acquisitions.

Floated in late 2004 at 30p, CBG shares hit 191p last December and now trade at 157.5p, where they should make progress on a medium-term view.

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CBG Group	AIM	£20.92m	135.00p	0.00p
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