LONDON (ShareCast) - Shares in Horizon Technology jumped after the Dublin-based IT outfit confirmed that it has received a preliminary approach which may or may not lead to an €1.18 per share offer.

“Shareholders should note however, that the approach is preliminary in nature and is subject to a number of conditions,” said the group.

“Accordingly, no assurances can be given that a formal offer will be forthcoming or that any transaction will occur,” he added.

Earlier this morning, Horizon said it had a strongly cash generative 2007.

Costs of a new factory held back inkjet printing specialist Xaar last year, though underlying profits rose strongly.

Turnover in 2007 rose by 13% to £47.9m with pre-tax profits up by 6% to £7.3m from £6.9m. Underlying profit before tax increased 35% to £9.3m.

Xaar added it had made goods progress with new Platform 3 print head products with a significant number of 'developer kits' sold to potential OEMs and initial printer product launches by Xaar customers.

FTSE TechMARK - Risers
Horizon Technology (HOR) 68.00p +104.51%
Oxford Biomedica (OXB) 23.50p +4.44%
Microgen (MCGN) 52.00p +4.00%
Xaar (XAR) 183.50p +2.37%
Acambis (ACM) 123.50p +1.23%
Torotrak (TRK) 21.00p +1.20%
Intec Telecom (ITL) 46.00p +1.10%
Antisoma (ASM) 24.75p +1.02%
Computacenter (CCC) 184.75p +0.41%
AEA Technology (AAT) 68.50p +0.37%

FTSE TechMARK - Fallers
Inion (IIN) 13.00p -8.77%
Ardana (ARA) 13.00p -7.14%
Renovo Group (RNVO) 53.00p -5.78%
Sinclair Pharma (SPH) 39.00p -4.88%
Elan (ELA) € 12.41 -4.17%
Domino Printing (DNO) 302.00p -4.13%
Wolfson Microelectronics (WLF) 126.25p -3.81%
nCipher (NCH) 156.50p -3.69%
Oxford Instruments (OXIG) 191.00p -3.54%
ClinPhone (CNP) 104.00p -3.26%

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