The challenge for companies targeting AIM 13/08/2010
With AIM investment advisers speaking of ‘cautious optimism’ and a ‘stronger deal pipeline’, Robert Tyerman assesses whether we are soon to see a deluge of new issues
While its shares have been negatively affected by general sector sentiment, Northern Bear should outperform, says St Helen’s Capital. The North of England-focused AIM-traded building services venture has grown rapidly since listing in late 2006.
Turnover for 2007 hit £4.8 million and is forecast to reach £29.9 million for 2008, with performance reflecting successful acquisitions positioning the group away from the cyclical ‘new build’ housing sector. Clients include local authorities, housing associations, the NHS trusts and universities. Long-standing public sector relationships, St Helen’s argues, provide investors with confidence.
Greece is the word
Also on the watch list is a pair of emerging Greek businesses including Globo, which delivers e-business software solutions. It is seeking growth in Greece, Bulgaria, Romania, Cyprus and Turkey – markets outpacing the developed European information and communications technology (ICT) markets. Despite delivering strong momentum for the year to December 2007, Globo trades on an undemanding multiple of seven times for 2008.
Helesi is a designer of plastic products used in waste management whose prospects are driven by global recycling regulations. As well as Greek production facilities, the group has a UK facility and is constructing a third in Italy. Recent full-year figures showed sales increased by 42 per cent to a50.7 million (£40.2 million) and the company can claim a compound annual growth rate of 42 per cent over the past four years.
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With AIM investment advisers speaking of ‘cautious optimism’ and a ‘stronger deal pipeline’, Robert Tyerman assesses whether we are soon to see a deluge of new issues
Accountancy firm PricewaterhouseCoopers has bearishly declared that by 2015 there is ‘a 50 per cent chance that property prices will be below 2007 levels’.
As Tajikistan-focused gold explorer Kryso Resources celebrates the appointment of experienced gold miner Andre Gaston as chief operating officer, London public relations outfit Walbrook has announced to an unsuspecting world that it has won the PR account for the AIM-quoted company.