July was an eventful month on the JP Jenkins market, although share prices often did not respond. Several firms buoyed their investors with encouraging figures, others disappointed. There was also a raft of contract news to keep market spectators intrigued as the main markets took a catastrophic fall.

Marketing group Mustardhouse began trading profitably in the fourth quarter to December, despite the tough conditions in its sector. It made £13,726 pre-tax profit on turnover of £147,361. With the shares at 25p, the business is now valued at £1.6 million.

Specialist glass manufacturer Ozone meanwhile delivered encouraging figures for the first nine months to March. Sales put on 29.1 per cent to £744,542, and were up an even more impressive 78 per cent (year on year) in the third quarter. Losses were trimmed by 9.7 per cent to £249,455. But the shares have failed to respond and currently rest at a 52-week low of 10.5p, against a high of 35.5p.

Investors were also treated to maiden preliminaries from LookC (formerly Applied Technology Monitoring) – the Newcastle-based designer, developer and supplier of video-monitoring systems that was founded by three members of the Golightly family. Losses widened from £298,215 to £760,718; sales rose by 80 per cent to £369,000. Punters who got in at the 65p issue price are now sitting on 99.5p shares. At £8.3 million, however, the business seems over-valued.

Companies releasing disappointing figures included corporate advisory firm DWA Capital. In the year to March the firm lost £288,200 pre-tax on lower turnover of £948,565 (£1.1 million). Since then, the company has exchanged contracts to sell David Williamson Associates in a deal worth around £500,000.

DWA client Chores was another firm that failed to impress. The household cleaning services business lost £387,000 before tax on revenues of little more than £1 million. Full-year figures to September will also fall below expectations.

Chores recently issued another 31,500 shares, at 25p, raising £7,875 for its working capital needs and clipping back directors' holdings to 67.5 per cent. So far this year its share price has fluctuated between 26.5p and 18.5p.

Contract wins

Elsewhere, a raft of firms flooded the market with upbeat contract news. For instance, Berkshire-based traffic systems integrator Appian Technology is to provide a parking guidance system for a convention centre in Dubai. It has also clinched a deal to provide its numberplate recognition technology for the car park at Vodafone's headquarters in Ireland. In addition, the group has also won three Official Secrets Act-governed deals in the UK. The shares revved ahead a penny to 21p on the news, but have since reversed to 20p.

Another wading in with contract news was Argyll Consultancies, currently trading at 35.5p a share. Its communications consulting arm, Kaizo, has been selected to work with the in-house communications team at Siemens Network Systems.

There were the usual comings and goings, with recruitment and vocational training business Intec Business Colleges introduced to Ofex on 8 July. Shares in the Rugby-based business ended their first session 0.5p healthier at 100.5p. Elsewhere, Newlands Scientific delayed its move to Aim because of the poor state of the financial markets. The company, which develops technology using smart magnetoelastic materials, hopes to migrate to the junior market when conditions improve.

Music copyright outfit Air Music & Media switched dealing in its shares to Aim on 4 July though.

The directors of UK Broadcast have meanwhile asked Ofex to withdraw its shares from the market. The board is still eyeing up acquisitions and, as any deal would constitute a reverse takeover, under Ofex rules it must re-apply. The news marked the end of a fruitless two-year listing which saw the radio group burn through cash in a failed attempt to set up an online radio marketing medium.

Looking forward

Expect final figures from computer hardware, software and network service provider Global 20 by the end of August. In a difficult first half to September in which it suffered restructuring pain, profits of £156,570 gave way to a £35,540 loss, although sales were higher at £1.75 million (£1.4 million). At the time the board said prospects for the rest of the year were 'excellent'. Investors will be hoping for signs of an improvement when the figures are posted.

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