Market Report: Taking Stock

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The Independent Online
Datrontech, the computer components supplier, firmed 9p to 125p after it issued a reassuring trading statement. Full-year profits will be in line with expectations at about pounds 6m. Chief executive Mark Mulford and finance director Gerard Connolly, brought in to shake the group up after a profit warning last year, are shifting the business away from volatile computer memory towards more profitable components and networking products. Management reckon the group should be able to produce annual organic profit growth of 30 per cent.

Over on Ofex, Po Na Na, which runs a chain of African-style late night drinking and dancing holes in London and Oxford put on 1p to 82p. Luminar, the theme bar and discotheque group which caters for thirtysomething party goers is rumoured to be preparing a bid. Luminar shares gained 8.5p to 533.5p.