Small cap round-up: Huntsworth, Abbeycrest, Marylebone Warwick Balfour
Date: Friday 13 Jul 2007
LONDON (ShareCast) - Huntsworth was in an upbeat mood after the group announced it bought AXIS, a leading healthcare communications company operating in the USA, for up to $55m.
The PR group will pay $18.4m in cash and up to $55m in total, depending on the company’s performance in the four years to December 2010.
Shares in Abbeycrest were in demand despite news that the Jewellers UK unit, G&A, is still finding trading conditions difficult as a result of low levels of demand and a recent decision by a major customer not to pursue its sales trial.
The group’s manufacturing operations overseas are performing ahead of expectations and helped third party sales.
Property group Marylebone Warwick Balfour confirmed that is beginning negotiations regarding a possible sale of its Malmaison and Hotel du Vin operating business.
“At this point in time, any discussions are at a very early stage, no negotiations have been commenced or contracts exchanged and there can be no certainty that any such transaction will proceed,” the group said.
