City File: Mosaic Investments

MORE THAN a decade after the last Tom & Jerry TV cartoon was made, the battling cat and mouse returned to star in a new full-length movie. Their revival mirrors that of Mosaic Investments, whose subsidiary Copyright Promotions has the rights to Tom & Jerry T-shirts, gifts and the like.

Mosaic has had a chequered history but Hugh Sykes, the current chairman, has restructured the group, selling or closing its loss-making businesses. While it will report a full-year loss of around pounds 2m on Thursday, the figures will show a healthy operating profit.

Mr Sykes says he wants to hand over the reins now he has secured the company's future. Shares, issued in the restructuring at 20p, now languish at 17p.