Alpha to consider bolt-ons in bid to grow overseas | Consumer Products & Retail | Reuters

Alpha to consider bolt-ons in bid to grow overseas Consumer Products & Retail Reuters: "LONDON, March 27 (Reuters) - British airline services firm Alpha Airports Group (AAP.L: Quote, Profile, Research) said on Tuesday it would consider bolt-on acquisitions as it bids to expand its operations into higher margin, overseas markets. Finance Director Mark Adams told Reuters the company was keeping an eye out for deals -- although he added it would also be putting a lot of effort into winning big contracts.
'There are opportunities for bolt-on acquisitions -- although we are not looking to grow massively that way,' he said in a telephone interview. 'We can also grow organically ... focus on our strengths.'
Reuters Pictures

Editors Choice: Best pictures
from the last 24 hours.
View SlideshowHe revealed that the firm -- which provides airline catering as well as airport retail across the globe -- generated 81 percent of turnover from the UK in 2005/06, but only 31 percent of profit.
'There are too many players chasing too little business (in the UK),' Adams said. 'Compare that to, for example, Jordan -- where we are the only player, or Australia -- where we are the number two.'
Adams said he was happy with analyst forecasts that the group would improve profitability in 2007/08 following a slide in the year to Jan. 31 2007. "