Companies: BIT    CBY    DCI    EHR    FTI    GHH    MC.    PDC   

AIM has underperformed against the wider market for much of this year, but made a strong start to December, rising 17.3 points to 1031.5 whilst the FTSE 100 trod water ending the week down 2.5 points at 5509.3. Most brokers have focused on Australian bank Macquarie’s preliminary bid for the Exchange, rejected as ‘derisory’.

Printing services franchiser Printing.com (PDC) posted exceptionally strong figures for the half ending 16 October, with pre-tax profits rolling 75 per cent north to £1.1 million. Investors were also treated to a 0.5p dividend, helping the shares advance four per cent over the week to 72p.

Despite comfortably beating last year’s record numbers growing ‘optoelectronics’ manufacturer Gooch & Housego (GHH) fell four per cent to 276p. The company is widening its product net to sustain growth rates and saw pre-tax profits spark up 42 per cent to £4.7 million for the year to September.

European Home Retail (EHR), formerly Kleeneze, posted an interim pre-tax loss of £600,000, down from a £2.1 million profit last time, after accounting for its investment in its new home shopping television channel eeZee TV. The shares initially plunged 24 per cent but are now off just 7p over the week at 101p.

There was no such respite at food supplier Canterbury Foods Group (CBY), which lost three quarters of its value to 0.85p, giving a market cap of just £620,000. The group announced the £4.5 million sale of its meat division in order to reduce bank debt. This is part of a strategic review revealed in September.

Meon finds reverse

Skincare creams developer Dermasalve has reversed into cash shell Meon Capital (MC.), chaired by serial shell director David Massie, in a deal valuing the business at £8.2 million. To effect the acquisition Meon will initially issue £3.85 million of shares to Dermasalve’s existing shareholders. Meon has also raised £685,000 via a placing at 11p a share, 0.5p behind the current level.

After rising 67 per cent to 26.75p, Future Internet Technologies (FTI), a cash shell stalking its own potential reversal opportunities, admitted that it ‘has been in contact with a number of acquisition opportunities’ but these have not reached an advanced stage.

Video games developer Bits Corp (BIT) buzzed up 105 per cent to 21.25p this week on speculation, confirmed by the company, that it is ‘is in discussions with a number of parties with a view to establishing an online gambling presence’.

Dolphin leaps onto AIM

Shares in Greek real estate investor Dolphin Capital Investors (DCI), planning to invest in land beside the sea in Greece, Cyprus, Turkey and Croatia, began trading on AIM on Thursday at a premium of 8p to the 68p placing price, at which £70.7 million was raised.

Miltos Kambourides and Pierre Charalambides, who previously worked together at Soros Real Estate Partners, set up the vehicle’s investment adviser last year.

Hong Kong-based designer and installer of CCTV surveillance systems UniVision Engineering is looking to join Dolphin on AIM, eyeing a £1.5 million AIM launch next Friday. The placing, handled by broker and Nomad Insinger de Beaufort, was priced at 3p per share and will value the company at £9.4 million.