Surveying consolidator OTOC has recently raised $12m to acquire further businesses in its narrow market sector and looks set to maintain its strong earnings and share price momentum.

OTC has been acquiring and consolidating professional surveying, Urban Design and Town Planning businesses for the past couple of years and has recently begun enjoying the results, with underlying profitability rising 3-fold in the past financial year to over $16m.  With 3 upgrades already announced this calendar year, the strong result was hardly a surprise to investors. However with a market cap now almost touching the magical $100m, this business is becoming a bright blip on the radars of larger investors.  Forward revenues are likely to be stable with numerous government contracts and ongoing synergies from recent and new acquisitions will help drive earnings. With net cash of more than $13m OTC is almost a certainty to release more news with respect to bolt-on businesses.