Companies: BLH    COR    EDA    JLF    PIX    QRT    RPT    SBT    VDS   

As the FTSE 100 slipped slightly from a 52-week high mid-week to 5,858.4, AIM put on 13 points to 1,169.7 after various media machinations and improved interims from the Index’s largest constituent, Sportingbet.

A management buyout led by Lord Ali, who recently failed to extract Virgin Radio from the clutches of its present owners, has been agreed for Chorion (COR), the owner of the rights to Noddy, Mr Men and many other televisual favourites. The shares sprang up 24 per cent to 424.5p as the management quartet and private equity house 3i revealed a price of 425p in cash had been agreed.

With the appointment of former director of advertising giant WPP Richard Collins as chief executive, video streaming technology developer Vividas (VDS) gained 38 per cent to 74p. Serial entrepreneur Collins, head of various WPP agencies from 2001 to last year, is already enjoying his tenure after picking up 18,868 shares at a now bargain price of 53p just prior to his appointment.

And despite a 12 per cent increase in adjusted pre-tax profits and a catalogue of titles comprising such favourites as Household Management for Men, Strip Poker Kit (including a ‘saucy’ deck of cards), and The Good Food Cookbook for Dogs, international book publisher Quarto (QRT) sat flat on Friday at 196.5p.

Sportingbet decelerating?

Online gaming group Sportingbet (SBT), AIM’s biggest member at £1.7 billion, increased pre-tax profits 126 per cent to £41.3 million in the six months to January. However, the shares only rolled 9p higher to 397p as the results suggested a slight deceleration in the second three months. Sportingbet now has more than 3.9 million registered customers, who placed 290 million sports and gaming bets and played 339 million games of poker in the first half year.

Regal Petroleum (RPT) gushed 102.4 per cent over the week to 87p after buying from major shareholder and former boss Frank Timis (whose stake is up from 8.9 per cent in January to 18.2 per cent) and others, as well as the confirmation of a victory at the Supreme Court of Ukraine. But industry illuminati say the fate of its crucial Ukrainian assets still remain unresolved.

Bid buzz pokes Pix

Digital photography specialist Pixology (PIX) saw a leap in its shares too, by 29 per cent to 55p, after press speculation of a potential offer for the company. Management revealed such dalliances are not uncommon and confirmed that it has indeed had ‘recent discussions of this nature’, though they have not yet advanced beyond a preliminary stage.

Insurance and financial services outfit Jelf (JLF) is buying complementary insurance broker Goss Group for up to £8.9 million. The Bristol-based company claims this will create 'a leading force in the commercial insurance, corporate healthcare and employee benefit markets in the south of England and Wales'.

Looking down

Despite a generally very positive year-end trading update, shares in grocery wholesaler deliverer Blueheath (BLH) deteriorated 21 per cent to 92.5p as it flagged up the ‘extremely challenging’ recent market conditions. This will mean revenues, although likely to arrive at a 90 per cent premium to last year, and profits will be below expectations.

Network security expert Endace (EDA) fizzled 37 per cent lower to 107.5p after chief executive Selwyn Pellett admitted industry component shortages would disrupt the company in its important fourth quarter. ‘We are exploring all avenues to fill current and expected product orders,’ he reassured.

Looking forward

Fast growing recruitment specialist Work Group has raised £7 million at 80.5p ahead of its AIM launch next Wednesday, to value it at £19.1 million. Last year, with a client list including Asda, Barclays, Unilever, Glaxo, Vodafone and Nestlé, Work increased pre-tax profits from £479,000 to £842,000.

Cosmetics industry veteran Stirling Murray hopes to raise £640,000 on AIM shortly for beauty brand consultancy The Core Business, which the float is expected to value at some £1.8 million.