Empire’s fall hurts AIM

Online gaming contender Empire Online (EOL) halved this week to 88.5p after major customer PartyGaming effectively said it would no longer use Empire’s services. At present Empire provides the FTSE 100 poker giant with significant numbers of customers. Nevertheless Empire, still valued at £259 million, retorted by saying recent trading ‘has been very strong’. Empire’s shares were floated at 175p in June.

Fellow gambling concern Sportingbet (SBT), AIM’s largest company, unveiled stunning full year figures to July. Pre-tax profits rose five-fold to £40.8 million, helped by a valuable contribution from Paradise Poker, acquired last November. Sportingbet shares finished the week down four per cent at 293.5p.

Other gamers suffering a mauling included online money transfer operator NETeller (NLR), down 14 per cent to 695p; software developer FUN Technologies (FUN), off seven per cent at 245.5p; and internet casino owner Gaming VC (GVC), which fell eight per cent to 477p.

The markets overall had a nervous week as well. The FTSE 100 retreated over 100 points, or two per cent, for a second week in a row, ending at 5,271.6. The AIM Index dropped 28.7 points, or 2.7 per cent, to 1,035.4. Algerian gas field developer First Calgary Petroleum (FPL) slid ten per cent to 392.5p, capitalising it at £740 million.

Fennell defies retail gloom

In the week when Marks & Spencer published modestly improved results, a couple of AIM merchants also pleased.

Shares in Theo Fennell (TFL) glittered 27 per cent brighter this week at 33p. The gaudy jeweller-to-the-stars reported like-for-like sales growth ahead of expectations at 4.5 per cent for the six months to the end of September. With new overseas distribution channels in place and high-profile collections to be launched shortly, the bauble-maker is well prepared for the important Christmas period.

Profits before tax at Blooms of Bressingham (BBR) rose 56 per cent ahead at £1.9 million during the six months to July. The garden centre operator benefited from the opening of two new large centres at Gloucester and Rugby. The shares put on 1.5p to 57.5p.

Formscan flies

News that Formscan (FSA), scanning and document-production practitioner, has signed an agreement with a Japanese company to market and develop tracking solutions used in electronic passports helped its shares skim up 32 per cent to 16.5p.

Internet pollster YouGov (YOU) released maiden full year results on AIM marginally ahead of forecasts, with pre-tax profits hitting £996,000 on sales of £2.94 million. The company, which picked up 14p to 214p over the week, says it is looking for earnings-enhancing acquisitions in the market research sector and had £3.8 million cash at the year-end.

Meanwhile pharmaceutical services group Premier Research (PRG), which floated at 40p last December, issued interims to July showing a pre-tax profit of £0.9 million against a £0.2 million loss last time. This lifted the shares six per cent to 97.5p.

Finally wireless antennae maker Sarantel (SLG) suffered after warning of £5.6 million full year losses. The shares plunged 36 per cent to 48.5p, which contrasts with March’s issue price of 82p. The group has already said it is slightly behind schedule.