Recommended by Growth Company Investor at 265p in April, XL Tech, which invests in and develops innovative technology businesses, has seen its share price climb to 325p in recent weeks, buoyed by an encouraging full year update.

Thus far the group’s reputation has evolved with the success of its first business AgCert, a generator of greenhouse gas emission credits in which XL continues to hold a 27.2% stake. The company is now established and enjoying a market valuation in excess of £380m following last summer’s London flotation. However, attentions have shifted to the two other businesses in the portfolio.

Natural insecticide and pesticide specialist TyraTech, for instance, continues to advance steadily – recently announcing a development agreement with a division of Scotts Miracle Grow and a distribution deal in Mexico. Medical diagnostics hopeful DXTech, meanwhile, has entered into relationships with Proctor & Gamble amongst others. In both cases XL retains its stated aim of achieving valuations of at least $400m within four years.

Several other opportunities are also being evaluated, with a fourth portfolio business likely to be announced in the coming months. Given the nature of the business, investors should continue to monitor progress and hold their interests for the time being.

XL TechGroup (DI)	AIM	0pm	p	p
Click here for interactive charting
Other company articles:
XL Tech’s second spin-out			02/05/2007
XL TechGroup reports deal with Kraft			08/12/2006
XL TechGroup offshoot			08/09/2006
Boffins at Work			08/08/2006
XL TechGroup looks undervalued ahead of spin-offs			28/07/2006