LONDON (ShareCast) - Drug delivery specialist The Medical House said it does not believe an offer will be coming from a company that had made an approach in April.

The group said in April that it had received an approach that may lead to an offer.

"The directors of TMH now believe that an offer for the issued share capital of the Company will not come from this source," it said.

"The directors continue to see high levels of interest in TMH's technologies and with the company's current market capitalisation the directors believe that interest of this kind from other parties cannot be ruled out," it added.

Horse racing data firm TurfTrax confirmed the appointment administrators for its subsidiary. The group said yesterday it is progressing with its restructuring plans and said part of that was to put its subsidiary Turftrax Racing Data into administration.

First quarter revenues at financial services group Walker Crips fell from the same period a year ago due to uncertainty in the financial markets.

Net revenue in the period fell by 2.1% to £3.5m.

However, the company said all divisions were performing creditably in difficult markets. Funds under management rose by 5.1% since the beginning of the year to stand at £426m on 30 June.

“We continue to be mindful of the uncertain investment conditions, in light of which, cost reductions are being implemented and all expenditure is being actively monitored,” Walker Crips said.

Telecommunications services provider AdEPT slipped into losses of £738,000 from the profit of £789,000 last year. Revenue increased 25% to £23.6m driven by the acquisitions made during this year and the previous period.

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