Companies: BNH    CLL    DAV    GOAL    NARS   

Rubicon to flow onto AIM

Rubicon Software Group, which has a CRM system known as Accelerator used by financial services clients, will flow onto AIM with a £3.77 million market price tag tomorrow, having attracted £430,000 net from institutions and other investors with the help of prolific AIM broker and adviser WH Ireland. Monies raised will help to fund the roll out of its CRM system.

First days dealings are also scheduled for GMO, the mobile transaction network operator that should command a £20 million price tag, having raised £5 million with the help of Corporate Synergy.

And a Thursday debut has been pencilled in for resources play Chromex Mining, the developer of a chromite mine at Mecklenburg in South Africa looking to raise £870,000. The company holds prospecting rights over two significant chromite reefs - LG6 and LG6A - which form part of the Eastern limb of the Bushveld complex. A bankable feasibility study is currently in the pipeline and Chromex hopes to be in production by the end of 2007. The longer-term strategy is to take a greater slice of the chromite mining sector through acquisitions, using cash flows from Mecklenburg mine.

Results round-up

Figures catching the eye on Tuesday included record results from asset-based lender Davenham (DAV) in its first year as an AIM company. For the period to June, profits skipped 16 per cent higher to £10.8 million on turnover lifted 15 per cent to £32.7 million. The market warmed to the figures, marking the shares 5p higher to 303.5p.

Marketing services play Cello (CLL) was another making sweet noises, with the shares clipping 5.5p higher to 129p on the back of excellent half-time figures to June. On turnover up 45 per cent to £31.7 million, pre-tax profits powered ahead by 138 per cent to £1.9 million, and half time net cash was a robust £2.3 million.

Looking forward

Two veritable AIM stars are gearing up to cheer with figures. A week on Thursday, Grant Ellis’ Broker Network (BNH) will unveil full year figures to 30 April. Led by chief executive and founder Ellis, the fast-growing and deal hungry network organisation for independent insurance brokers has a history of outperforming the market. Analysts will be looking for pre-tax profits of £2.9 million.

And on Monday the 18th, Goals Soccer Centres (GOAL), the operator of ‘next-generation’ 5-a-side soccer sites, will announce half time figures to the end of June. Under the stewardship of Scottish duo Keith Rogers and Bill Gow, Goals netted a 355 pre-tax profits rise to £2.8 million on sales up 35 per cent to £11.2 million for the 2005 calendar year.

And a week tomorrow, watch out for interims from recent AIM issue Nationwide (NARS), which claims to be the UK’s biggest dedicated provider of automotive crash repair services. In a recent pre-close update the company said that the first half, historically the stronger, was encouraging, and the business is on track to hit full year forecasts.