Online trade finance specialist CCH International says it is in ‘advanced discussions’ about a potential new agreement.

AIM-quoted CCH, controlled by managing director and former JP Morgan luminary Eren Nil and his brother Emir, had a distinctly shaky AIM performance after its 2001 float at 10p, falling to 2.13p in 2005. But the company has been growing fast of late and says most of this improvement emanates from its ‘Shariah-compliant Islamic trade finance activities’.

The Richmond-based company (formerly Emdex Trade), which recently clinched a co-operation and convertible loan agreement with Middle East-focused Jasper Capital, now says it is negotiating with unnamed ‘parties’ in talks that ‘may lead to an announcement in the short term of another trade agreement’. CCH, which lifted pre-tax profits from £43,000 to £1.6 million in the six months to last June on turnover up from £970,000 to £7.85 million, says deal flow remains strong as it continues to talk to businesses seeking trade finance and to potential providers of finance lines.

CCH shares have now reached 60.5p, up 11.5p after touching 66.5p, where the company is valued at £51 million. Very tightly held by Eren Nil – a key mover in Turkey’s leading private equity group Turkven – and relatives, the shares’ short-term prospects could hinge on the outcome of the present talks.