Azlan seeks cash for acquisition

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The Independent Online
Azlan seeks cash for acquisition

Computer services group Azlan is to raise pounds 20.4m in an open offer underwritten by SBC Warburg to finance the acquisition of Ronin, a network computing distributor, for pounds 6.95m. It also announced interim pre-tax profits of pounds 4.4m, four times the pounds 1.1m achieved in the comparable half-year, and said it had had a strong start to the second half of the year. Earnings per share were 13.6p (3.7p) and the dividend increased 20 per cent to 1.2p.

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