Companies: BSP    CMG    CWM    EDR    HLL    ILX    PKL    PMK    SCD   

The markets recovered slightly from last week’s battering, with the FTSE 100 putting on 1.5 per cent to 5217.7. However, the AIM Index was flat at 985.1.

Renewed interest in OFEX, experiencing its busiest month this year, pushed its operator PLUS Markets (PMK) up 28 per cent to 15.88p. The facility’s shares have trebled over the past three months and a number of major brokers have taken stakes, including KBC Peel Hunt, Shore Capital, Cenkos and Charles Stanley.

Former OFEX member Egdon Resources (EDR) rose 40 per cent to 75.5p on reassuring final figures. The oil prospector, which also operates a gas facility, discovered oil on the Isle of Wight earlier this year. The shares have gone up 150 per cent since joining AIM last December.

Hill Station recovers

Ice cream maker Hill Station (HLL) jumped 52 per cent to 5.5p after investors had the first chance to trade the shares following the reverse acquisitions of Loseley and Granelli McDermott. The combined entity is the third largest ice cream maker in the country with an annual turnover of £17 million. The deal also saw £7.5 million raised at 3p a share.

Other risers included training company ILX (ILX), up 23 per cent to 122p. This prompted the group to reveal it is in talks about making a ‘substantial’ acquisition. Brainspark (BSP) shot up 196 per cent to 1.85p as its deal to secure funds for major investment Geosim came closer to completion.

PKL crashes

Outside catering expert PKL (PKL) shed 38.5 per cent to 87p after warning that full year profits would be substantially below expectations. Sales are on track, however. The group also provides healthcare services and has had to spend more on some troublesome contracts, thus pulling back margins.

Another casualty this week was Cornwell Management Consultants (CWM), off 31 per cent at 86p, warning that full-year profits would be far lower than forecast.

Surveillance equipment specialist Croma (CMG) had disappointing news to deliver as well, saying full year losses would mount to £600,000. The group is also close to making two acquisitions of private companies. The shares lost 13 per cent to 3.25p.

Card vending machine group Scott Tod (SCD), where chief executive Nick Tod was forced to resign in August, lost £1 million last year, with goodwill, amortisation and 'impairment' extending that to £4 million. Nevertheless, the shares picked up half a penny to 17p.

Coming up

Leading London metal trader Wogen, which specialises in trading metals that do not have tradable contracts on exchanges, is joining AIM on Monday after raising £20 million at 122p. The company has experienced strong growth at its four offices in China and made a group pre-tax profit of £6.9 million last year to September.

US patient monitoring concern Spacelabs Healthcare will also see its shares start trading on Monday following its 125p-a-share placing to raise £15.3 million. Spacelabs has grown via a series of six acquisitions, with 60 per cent of sales made in the US and the rest from around the world. This February Spacelabs bought UK anaesthesia systems specialist Blease.