Purple patch for Indigo

A good week in the markets saw the AIM Index rise 20.1 points, or two per cent, to 1016.8. The FTSE 100 finished around its four-year high at 5520.5.

A positive AGM statement helped internet-based video surveillance provider Indigo Vision (IND) rise 38 per cent to 266p. The group expects sales for the first four months of the current financial year to be around double that of the corresponding period last year. Margins are holding up and cash balances remain above £1 million.

Banking software provider Financial Objects (FIO) also had good trading news to impart. The group expects pre-tax profits for the full year to be ahead of expectations, thanks to strong sales in all its three divisions. Cash should rise. This helped the shares put on 5p, or 13.7 per cent, to 41.5p.

However the resignation of the finance and operations directors at the AGM of accountancy group Tenon (TNO) sent the shares tumbling 17 per cent to 27.5p. Shareholders also learnt that business has been slower than in previous years in some parts of the business.

KP in Emerald Isle deal

Shares in renewable energy generator KP Renewables (KPR) breezed 46 per cent higher to 70p after unveiling a joint venture to develop and operate up to 100 megawatts of renewable energy projects in Ireland (both North and South). The projects, in partnership with recycling specialist RE3, will divert waste from landfill to create feedstock suitable for the generation of renewable electricity.

A US licensing deal sent health and leisure investor ADDleisure (ADE) up 18 per cent to 3.25p. The group’s 75-per cent owned personal health subsidiary Fitbug, signed a three-year agreement with US Fortune 500 company, Brunswick New Technologies, to market Fitbug's pedometer offering in the USA.

Petra’s deal foiled

A shareholders' revolt has thwarted the plans of Petra Diamonds (PDL) to acquire Mano River Resources (MANA) in a £35 million share deal that would have created a £145 million exploration and mining group. The two companies insist the decision is 'amicable' and they will continue with their joint diamond venture at Kono in Sierra Leone. On the day, Petra's shares were 0.75p off at 64p and Mano's fell 0.5p at 9.75p.

Serial entrepreneur John French’s surveillance, security and defence products specialist Croma (CMG) is poised to clinch two new acquisitions after raising £250,000 with one institutional holder at 5p, at a premium to its AIM price of 4.25p. One should broaden Croma's presence in speciality surveillance, the other should take it into biometric asset protection. Both are 'very profitable'.

Further bad news for troubled Deal Group Media (DGM) came in a warning that delays in the implementation of its software at a few of its customers would have a harmful impact on the year’s profits to the tune of £600,000. The shares collapsed 23 per cent to 5p.

Davenham’s strong debut

First day’s dealings on Tuesday in Manchester-headquartered Davenham (DAV), an asset-based lender to SMEs, saw the shares rise eight per cent above their issue price to 272.5p by the end of the week. The company raised £23.5 million net to help fund further organic and acquisitive growth.

Another hoping to find similarly positive reaction to its wares when it joins the market on Wednesday is Hargreaves Services, a provider of materials and services to the energy industry. It is hoping to raise £23.2 million in a placing organised by broker and adviser Brewin Dolphin.