Turnaround at TEG 17/03/2010
Organic composting specialist TEG Group is pursuing long-term contracts after turning £1.6 million annual losses into £155,000 pre-tax profits.
Silence mute on rumours
Gene specialist Silence Therapeutics would not comment today on City suggestions of a major drug group tie-up.
Drug giant AstraZeneca holds nearly three per cent of Silence, a leading specialist in RNA (ribonucleic acid) interference, which can repress genes linked to the onset of disease. The Square Mile is abuzz with suggestions that Astra or another major pharmaceutical concern is interested in a corporate deal.
Finance director Melvyn Davies says the company is ‘in talks at all times’ about potential product licensing deals. A Silence adviser insists the company does not comment on rumours.
At 108p, this former growth stock retains some speculative appeal.
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