It has been a good start to 2002 for those new to Aim. The likes of 3D technology developer DDD, environmentally friendly Recycled Waste (the reincarnation of former Aim stock Alpha Accident Management) and property maintenance services group Wigmore, have all progressed past their placing prices. The real star, however, has been Clean Diesel Technologies, yet another member of the rapidly expanding collection of green stocks on Aim. The Connecticut-based firm possesses technology aimed at making diesel engines cleaner and more efficient. It launched on 28 December, after raising £3.6 million in a Nabarro Wells-advised placing at 140p. The shares now stand at 160p.

Earthport returns with the market



Secure payment system developer Earthport, once a rising star on London's junior market, finally had its trading facility restored on 4 January after a six-month period of suspension. The stock's trading facility was pulled in July following the revelation that it was in need of additional funds. Several directors and adviser/broker ING then stepped down.

Nabarro Wells has since taken over as adviser with Nomura becoming house broker. Earthport has also secured around £2 million of additional funds (via loan notes and a debt financing) and expects to double this in the near future.

It was not all good news though. The company's return was marked by news of a £23.5 million (£10.9 million) loss for the year to June and a 76 per cent drop in share price to 6.75p.

Also returning in a far from triumphant manner was financial application service provider The Market Age (TMA), down 38 per cent at 53.5p from its pre-suspension level. Once again the company's re-emergence coincided with the publication of overdue figures. This time for the six months to August, these revealed a 45 per cent rise in losses to £1.2 million. TMA also remains on the lookout for a new adviser/broker following Brewin Dolphin's decision to sever ties.

As these two ventured back from the wilderness two more filled their berths on the suspension list. Neither Non-League Media nor PrimeEnt managed to produce full year results within the allotted six months.



Moving on



Two more companies also waved farewell for good. The first of these, Electronic Retailing Systems, departed when it completed the merger of its under-performing shelf-labelling system business with Systems Holding, a shell company established by chairman Norton Garfinkle and chief executive Bruce Failing. Minorplanet Systems, meanwhile, decided that the time was right for a new challenge and now finds itself listed on the main board. Indeed, it has been a very successful few months for the vehicle tracking systems developer. In early December chairman Michael Abrahams revealed that first quarter sales in the UK and Europe were, 'well over double last year's levels'. Bearing in mind that profits for the 12 months to August surged 650 per cent to £5.3 million, this appears some achievement.



Monotub in a spin



It may have been a good month for Minorplanet, but it was a near disastrous one for washing machine developer Monotub Industries as it plummeted 60p to 105p on the back of a less than favourable write-up from a leading consumer affairs group. The January issue of Which? magazine identified 'a string of problems' with the £650 'Titan' washing machine, tested by its researchers. A replacement machine supplied directly by Monotub also sparked concern amongst the Which? team. Chief executive Robin Woolmer went on to insist that the issues raised are 'now substantially behind us'. Nevertheless, this latest fall suggests that investors are beginning to lose patience with the company, which has been beset by problems throughout Titan's development.



Looking forward



One company worth keeping an eye on next month is garden centre operator Dobbies, which will be announcing results for the year to October on 12 February. A rather disappointing interim statement saw the company reveal an 8.5 per cent slump in pre-tax profits. This was attributed to poor weather conditions and the temporary closure of two centres for redevelopment. Dobbies has since acquired a new 50 acre site in Warwickshire, Cross Lanes Farm, for £4.3 million and has reported a 20% rise in like-for like sales over Christmas. Broker Seymour Pierce is forecasting a £2.9 million (£2.6 million) profit before tax.