Market Report: Taking Stock

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The Independent Online
Prestbury, a property tiddler which has become the main vehicle for Nick Leslau, put through a pounds 13.25m property acquisition, funded from its own cash resources with bank finance "arranged shortly". The deal has rekindled hopes AIM-traded Prestbury will merge with Carlisle, a cash rich group with a modest property portfolio and a full listing. Entrepreneur Nigel Wray, a long time associate of Mr Leslau, is involved with both companies and a merger would assist Mr Leslau's ambition to develop Prestbury. Carlisle shaded to 9.25p and Prestbury held at 4.75p.

Teather & Greenwood, which has taken over as stockbroker to Dean Corporation, expects the house building and property services group to lift profits to pounds 1.4m this year and pounds 1.9m next. The shares are 11p.