Hercules confirms bid approach (UK)

Hercules Property Services plc said it is in talks that may lead to an offer for the company and that the offer under consideration would be at a premium to the current share price and would be predominantly in shares.

The company also said its pretax profit before amortisation rose 13 pct in the year to end June to 9.6 mln stg helped by an improvement throughout the group.
Full-year sales climbed 4 pct to 43.3 mln stg.
The company said its saw organic revenue growth in its insurance and surveying divisions, its two biggest by turnover, and completed a major restructuring of its residential management services business during the year.
It plans to pay a final dividend of 6.8 pence, bringing the total full-year dividend to 8.4p compared with 8.0p in 2003.

Source: Freeman

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