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The popularity of online shopping and ever widening broadband penetration are enabling internet services expert Group NBT to maintain its rapid growth rates. Two earlier acquisitions that outperformed, allied to organic growth of 17%, were behind a 98% sales surge to £16.5m for the half to December. Flat pre-tax profits of £1.9m reflected restructuring costs and a small loss from last July's Envisional acquisition. However, underlying profits actually rose 43% and good cash generation swelled the coffers to £3.5m and halved debt to £1m. European domain name manager Ascio, loss-making prior to its purchase last year, is now 'solidly into profits’, according to chief executive Geoff Wicks, and contributed to a 39% sales rise in the Netnames division, while Wicks predicts further efficiencies to come from the integration process.
Homeland Security Capital Corporation Acquires Safety and Ecology Corporation in $20.4 Million Deal
Homeland Security Capital Corporation (OTCBB: HOMS), a company engaged in the acquisition, development and consolidation of homeland security-related businesses, announced today that it has acquired Knoxville-based Safety & Ecology Holdings Corporation (SEC) as part of the Company's strategy to capitalize on significant opportunities within the homeland security industry. The acquisition is expected to generate revenues in excess of $55 million for 2008, and will enhance HSCC's position in the global marketplace for nuclear remediation and detection products and services. In addition, HSCC is simplifying its capital structure by exchanging its convertible debt for preferred stock and non-convertible notes. As part of this transaction, Christopher P. Leichtweis, founder and Chief Executive Officer of SEC, has been appointed President of HSCC and will join the HSCC board of directors.
Lebanese banks resist political deadlock at home and pursue overseas expansion, report says
The main impediment for Lebanese banks remains their high direct exposure to the risks inherent in operating in the Republic of Lebanon, Standard & Poor's Ratings Services noted in a report titled 'Lebanese Banks Plant Cedars Abroad While Resisting The Political Impasse,' published on RatingsDirect. .
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