Empire strikes back

A technology revival helped AIM recover this week, with the AIM Index putting on 2.3 per cent to 1,008.2. This mirrored a strong rise for the blue chips, as the FTSE 100 picked up 222 points, or 4.3 per cent, to 5,440.

Top of the pile was online gambling operator Empire Online (EOL), up 24 per cent to 109.5p on rumours that major customer PartyGaming might possibly restart bid talks. Empire’s shares still trade at a 37 per cent discount to June’s 175p float price.

Interactive television provider Yoomedia (YOO) shot up 32 per cent to 8.5p on two deals. The group has agreed to deliver Nasdaq-listed media technology concern Gemstar-TV Guide’s electronic guide to digital set-top boxes and televisions in the UK. The company has also extended its joint venture with fellow interactive content supplier ICTV to develop and market interactive products for the 3G mobile telephone market.

E-government-focused IDOX (IDOX) pleased its followers with the announcement of new contract wins with a number of metropolitan and county councils, bringing the total number of clients to 212 out of a possible maximum of 468. Others to sign contracts included the Metropolitan Police, HM Revenue & Customs and the DTI. Final results for IDOX, whose shares skipped up half a penny to 12p, are out on 12 December.

Canadian internet security expert March Networks (MNW) second quarter results that ‘significantly exceeded’ its expectations, with revenues ahead 85 per cent on last year to approximately C$19.8 million (£9.8 million). The shares hared up 13 per cent to 957.5p on the day.

Osmetech smelling sweeter

Shares in ‘electronic-nose’ technology developer Osmetech (OMH) flew up 21 per cent on Friday to 17.25p after it boasted of sales up 53 per cent to £3.7 million in the half year to 31 October, all from its OPTI range of blood gas analysis products. Osmetech is changing to a December year-end, so its next results, for the eight months to this December, will be announced next March.

Investment company Pearl Street (PSH), steered by serial small cap player Stephen Dean, jumped 50 per cent to 4.5p on news that Health Group, in which it has a 20 per cent stake, had secured ‘valuable’ contracts with Kent Police, Colt International, WH Smith and Celtic Football Club to provide health care cover for their employees.

Dickinson Legg draws breath

A melancholy preliminary results statement from the chairman of tobacco processing equipment engineer Dickinson Legg (DKL), declaring that the board sees ‘no reason to expect an improvement in the markets we are serving in the foreseeable future’, helped drag the shares down 24 per cent to 13p. Group turnover fell £10 million to £32 million for the year to June.

United Carpets (UCG) unravelled by 26 per cent to 12p after it too gave a morose account of its ‘challenging’ current trading. The consumer slowdown has meant United has ‘had to adopt a more defensive strategy’ than it envisaged earlier this year, so profits for the first half to 30 September will be ‘significantly’ below last year’s.

Looking forward

Three AIM aspirants revealed their float plans this week.

Bristol-based QED Food Processing Systems, with technology inspired by the recent BSE and foot and mouth panics that traces beef from animal to counter, plans a £4 million AIM float. QED, which is applying to patent parts of its software, is working on installing two systems at £3 million apiece in Australia and Canada in the current financial year to next June.

Pan Pacific Aggregates, a Canadian group with extensive hard stone and other reserves, is seeking to raise £10 million and float on AIM. Join brokers Insinger de Beaufort and VSA Resources hope to put a price of £1 a share on the float, which should value the company at around £60 million.

Catering for the 'non-standard market', Elephant Loans & Mortgages wants to raise £650,000 for an AIM float at 3p, to value the company at £6 million. Operating subsidiary Elephant Loans packages secured loans and mortgages. This arm increased profits before interest and tax from £116,000 to £264,000 over the two years to last March.