Japanese float buoyant

Fingerprint technology concern Secure Design KK (SDKK), the first Japanese company to list on AIM following its introduction by broker Charles Stanley at 47p per share, enjoyed an impressive first day of dealings last Friday. Chief executive Satoshi Takahashi foresees rapid growth for the company in a market expected to be worth over £3 billion by 2010 and the shares continued their upward trajectory this week, gaining 15p today to 84.5p.

Elsewhere, the shares of Individual Voluntary Arrangement specialist ClearDebt (CLEA) gained 88 per cent to 4p on the news that it has managed quarter-on-quarter growth of 86 per cent. Results for the year to June are due in September.

Struggling solar electric roofing designer and manufacturer Solar Integrated Technologies (SIT) slumped to its lowest level since its institutional placing at 171p in 2004. The shares, which were valued at 365p as recently as March, have hit 31p following a failed attempt to gain shareholder support for a further placing of 20 million shares. Chief executive Jon Slangerup has now left the company, which says it ‘will call a further meeting as and when new financing proposals are ready’.

The week ahead

Results for the year to May are to be published on Tuesday by IT assurance provider NCC Group (NCC), which completed an ‘earnings enhancing’ acquisition in the US a fortnight ago. The City anticipates figures to show pre-tax profit of £6.5 million on sales for the full year of £20.9 million.

Finally, Kelvin MacKenzie, chairman of marketing services and communications group Media Square (MSQ), will be hoping that shareholders of the company don’t follow the advice he offered at a recent seminar on investment in media companies – ‘keep out of media right now’. Figures for the 16-month period to February are due out this Thursday.

Chief executive Jeremy Middleton, who remains confident of growth prospects, should have no need to worry about current market scepticism towards media companies, if results are a continuation of the good work done in the first half. The last set of interims from Media Square saw revenues improved 250 per cent to £37.4 million, strong cashflow of £4 million and underlying pre-tax profit improvement of £3.6 million.