Octagonal posts strong first quarter following GIS acquisition

27th Jul 2015 13:14

(ShareCast News) - Octagonal rose on Monday after reporting a strong quarter following the acquisition of Global Investment Strategy (GIS).The GIS business, which was acquired last month, posted a turnover of £1.34m and a net operating profit of £0.55m during the first quarter. GIS is an UK-based settlements and global custody business.Chief executive John Gunn said: "We have had an excellent start to the current financial year."The business has produced record transaction quantities over this period and we continue to see strong new business generation."Following the update, shares rose 9.09% to 1.5p on Monday at 1144 BST.