Sports marketing and media group Essentially is planning to leverage its expertise in rugby and motor sport with an acquisitive drive into the gentlemanly world of cricket.

Already ‘vertically integrated’ in Formula 1 racing and rugby, with player management, sports marketing, sports television and professional services divisions, chief executive Bart Campbell aims to build a similar squad in cricket. ‘We’re in talks with a number businesses and we hope to complete within the next quarter or half-year,’ he enthused.

Campbell wants Essentially to be a ‘market leader’ in each sport and is only targeting growing businesses with proven management that will enhance earnings. Cricket has a similar following – and therefore sponsorship – to rugby, meaning there’s good potential for cross selling with the existing rugby side.

Since listing last May, Essentially has hooked three acquisitions for �14.8m and is still debt free. It recently hit 2006 numbers, lofting profits before tax and flotation costs 114% to �630,000 on sales up 80% to �1.9m, with only partial contributions from each division.

The core GSM arm is the largest player management outfit in rugby, representing 11% of the world’s top players and still growing. Its sports marketing business Accelerate has won top deals, such as the 2009 British Lions tour and one with Zurich Financial Services, and professional services arm Eight is less than two years old but has already built a client base across a variety of sectors. GSM and Accelerate provide excellent revenue visibility, with many long-term contracts and almost two-thirds of 2007 revenues already booked.

House broker Evolution is forecasting profits of �1.7m from �4.7m of revenue this year, producing 1.7p of earnings. A prospective p/e of less than ten times unfairly reflects a comparison with the precarious football player management sector. As Essentially operates in a more stable sporting sector and has much more to offer, the shares look inexpensive. Buy.