City File: Cable TV firm ready to make waves

THE shares of Flextech have nearly doubled since the company sold its remaining interests in the oil business and concentrated on cable TV and a 51 per cent stake in the satellite service, The Children's Channel.

The excitement now is a deal that Roger Luard, Flextech's chairman, is due to sign soon with British Sky Broadcasting. It will make the Children's Channel a paid-for service, transforming the loss-making station into a valuable asset.

Guy Lamming, media analyst at James Capel, reckons Flextech will be one of the best-performing shares this year, and is predicting they will rise from 80p to at least 100p. Expect some announcement with Wednesday's half-year results.