Zeta Compliance has announced that its risk assessment subsidiary, Fineapply, had launched a new division called Zeta Carbon. The new business, which launches this month, will assist companies in complying with new environmental legislation, including the Energy Performance of Buildings directive and the Carbon Reduction Commitment. It will also provide clients with sustainability and environmental management services and fire risk management. Two professionals with significant experience of these areas, Guy Anderson and Gavin Miller, have been appointed to manage the new division.

At a mid-price of 33.5p Zeta Compliance is capitalised at £2.91 million. If the new venture is successful it will be a useful addition to the company’s offering. Post-tax profits of £8,268 achieved in 2009 should be improved on for the year to January 2010, with impressive interims to July showing pre-tax profits of £89,042. However, we would prefer for the company to report on how trading over the second half has been before recommending an investment. At the very best – hold.