Companies: EPO   

Earthport.com has announced it is to graduate on to Aim, despite gaining approval to move to the Full List. Following the success of its record-breaking £25m fundraising back in March, the on-line payment group does not feel that it needs to raise the £20m minimum required by chapter 25 of the UK Listing Authority for a listing on the main market. The group, which started life as the operator for the Red Cross internet lottery, has recently formed a series of high profile partnerships with the likes of new economy players such as Nokia, Egg and Mviva. Broker Nomura forecasts that losses will snowball in the current year to £31m (losses of £7.1m in 1999), before transforming into net profits of £78m in 2004, when the market for secure e-wallet payments is expected to be worth $300bn.