Along with a decent set of final results, the electrical and engineering services group has announced that it is considering possible offers for the company. In effect, as Close Brothers adviser Mark Barrow points out, 'this basically means that they are into an offer period'. None have so far been received and alternatives such as an MBO are also being considered. The reason for the move is familiar to many small cap engineers - a languishing share price occasioned by a general lack of investor interest over the past few years. However, the company's performance during the year to 30 June was not at all bad, as it managed to hit broker forecasts of £10.5m in pre-tax profits (excluding £2.3m in costs from restructuring and amortisation of goodwill). The profit showed a decline compared to last year but earnings attributable to shareholders (excluding exceptional costs) showed a slight increase to 4.78p. Turnover was up 4% to £137m, while the final dividend has been maintained at 1.56p, making for a total of 2.36p, a yield of 8.5% at a price of 28p, up 1.5p on the day. NAV of £50.2m suggests that a takeover bid could bring some reward to shareholders, though, as Barrow points out, 'it is early days'. Investec analyst Richard Dyett expects about 5p of earnings this year.