Since he took over and turned around corporate promotions provider MKM two Decembers ago, Andrew Johnson has been hopping around for a ‘second leg’ for the business.

Investors anxious about the stability of this one-legged beast may have thought equilibrium was at hand with its proposed reverse takeover of an Australian peer for up to £7 million. However, executive chairman Johnson is adamant this cash-and-shares acquisition ‘is not the second leg’ and merely represents ‘a strengthening of the first leg’.

Boasting a recent turnaround from £362,000 losses to £456,000 profits in the year to March, Johnson insists a true second limb will be ‘data-oriented’, with earnings of ‘around £1 million’. He hopes to pin it down ‘in the next six to 12 months’.

Even when the elusive second leg is added, the hopping theme may persist. Johnson says the group may adopt the moniker of its new Australian subsidiary, Leapfrog.