Prime People, a recruitment group where PSD has a near 30 per cent interest, rose 2p to 9p on rumoured bid action. It is expected to produce profits of pounds 400,000 for last year, up from pounds 126,000. PSD, firm at 562p, was described as "offering good value" by Killik. It is big in IT recruitment and should benefit from the shortage of IT personnel.Reuse content
Nationwide Security, an electronic security group, arrived on the fringe Ofex market, closing at 220p. Chairman David Nash hopes for rapid expansion, largely through acquisitions. He said although the security market embraced three major players "90 per cent of it is occupied by small, owner-managed concerns". Nationwide consists of AETP Systems, taken over in August, and Regency Fire, just acquired. Talks are going on with a number of security companies and the next deal could emerge in a few months.