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Education Development International
- BY: Andrew Hore |
- POSTED: 27/07/2007 |
Education Development International has increased its stake in schools broadband supplier Fusion Media Networks to 75%.
EDI is paying £75,000 to add an additional 25% stake to its holding. The initial 50% shareholding came with the acquisition of eNVQ in May. House broker Brewin Dolphin expects FMN to make operating profits of £60,000 on turnover of £400,000 in the year to September 2008.
FMN is an additional service that EDI can offer to its education sector customers.
Brewin Dolphin forecasts a rise in EDI’s profits from £1.1m to £1.5m in the year to September 2007, increasing to £1.8m the following year.
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