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DELOITTE TO FLOAT CSL NEXT SPRING

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Deloitte & Touche, the professional services firm, is to float its outsourcing division, CSL, next spring, reports ...
Deloitte & Touche, the professional services firm, is to float its outsourcing division, CSL, next spring, reports The Financial Times (p30).

Analysts said the business could be valued at about£200m. John Connolly, senior partner and chief executive officer of Deloitte & Touche UK, said CSL would be floated to fund growth and make acquisitions.

He said there were a number of businesses that CSL would be keen to acquire; however, businesses in the support services sector had very high ratings.

CSL had a turnover of£107m in the year to 31 May, 25.9% up on the previous year, and a contracted order book of more than£500m. The business generated profits before interest and tax of£6.5m.
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