MV Sports was back in favour this week with a return to profitability. On the back of playground dem...
MV Sports was back in favour this week with a return to profitability. On the back of playground demand for scooters and PokŽmon cards, MV reported pre-tax profit of £1.02m in the six months to 31 December. Further buying was instigated by merchandising deals. MV will produce merchandise for the Jim Henson Company's pre-school programme, "The Hoobs" and merchandise linked to the Butt Ugly Martians. It will also launch a Harry Potter merchandise to coincide with the November release of a feature film.
Ever fluctuating Atlantic Caspian shares benefited from gossip that a positive drilling report was about to be announced. The oil and gas explorer is currently drilling in Kazakhstan.
Shares in engineer L Gardner jumped after a team of middle managers launched a takeover bid. Last month the maker of engine parts issued a profits warning and shareholders are wary that the same team that presided over that disappointment might take full control. A successful realignment from making components for the specialised industrial market to the aerospace, automotive and industrial markets led to a £10.1m pre-tax profit after a £21.4m loss last time around.
Speciality chemicals producer Yule Catto & Company made progress after hitting analyst's expectations with pre-tax profits of £16m, even though that was well down on last year's £43m. The company has had a tough time with high commodity prices making raw materials expensive but chairman Anthony Richmond-Wilson said after a period of restructuring, Yule Catto would enjoy a period of capital investment early next year.
Trafficmaster shares were heading in the right direction this week after the company announced a deal which will see its traffic information service available on Palm handheld wireless devices. The UK company also announced a £435,000 pre-tax profit, well down on last year's £3.8m, but better than the small loss the market had anticipated.
A contract signed with Thames Water helped shares in RTS NetWorks up. The software and internet company will provide an online retail solution for the water company.
Totalise brought in £1.44m by selling off the future call revenues from its internet dial-up operations to Secure Browser Limited.
Takeover talk resurfaced at pump maker Andrews Sykes, with the gossip this time being that the company might be wooed by a Scandinavian temptress.
H Young adjourned its EGM this week in order to consider the announcement that Lakefield Holdings intends to make a bid for the company.
Manufacturer Stratagem gained on the announcement of the disposal of its motor division for £8.5m cash to the Whitehouse Group.
Ports and property company Clydeport reported pre-tax profit of £14m for the year, ahead of expectations, while also revealing an aggressive acquisition strategy.
Mobile phone equipment seller European Telecom said last week it would report a "substantial" annual loss and hired advisers to review the business. Delays in introducing a new computer system are the crucial problem but investors are afraid cash will run out.
NetBenefit shares tumbled after the registrar of internet domain names reported a six-month pre-tax loss of £6.6m after volumes fell away in the last quarter and introduced a cost cutting regime.
Wallpaper products company Chapelthorpe hit the market with disappointing announcements. First, talks with chief executive Brian Leckie over his 32.5p-a-share offer have ended and the company issued a profits warning, saying second-half earnings would fall short of last year's.
Filtronic was downgraded by brokers at ABN Amro, who said that despite assurances that second half trading is in line, forecasts are at risk and order visibility difficult. It therefore recommends "hold" rather than"add" .
Internet software maker Actinic warned two weeks ago that it would not hit revenue targets this year. House broker Dresdner Kleinwort Wasserstein expects it to fail to break even by 2003. The drop continued last week as the City digested the news.
Future Internet Technologies, the worst London Stock Exchange performer a week earlier, had another poor week as the market waited for news of its strategy following its failure to negotiate a reverse takeover.
Musicunsigned continued a slide when it announced it was closing down its businesses. Lack of news on the acquisition of a profitable company to reverse into gave nervous investors further reason to head for the exit.
Carr's Milling cited the foot-and-mouth crisis when it issued a profits warning. It provides agricultural equipment, fertiliser and animal feed and says the disease is costing it an extra £30,000 a month in haulage alone because it has to disinfect its vans after every delivery.