Taking Stock

Tex, the engineering and plastic group, stretched to another peak, up 2.5p to 122.5p, as profit expectations were lifted. On Wednesday the company announced a pounds 6m contract to supply engineering plant to the Philippines. Other developments are likely. The group achieved interim profits of pounds 650,000 and a close follower of the company, Nick Brock of stockbroker Walker Crips Weddle Beck, believes profits for the year to March will emerge at more than pounds 1.4m. The shares were down to 19p when Tex was in the red in the early 1990's.

Wellington Market Co, started in 1,244 and claiming to be Britain's oldest company, is hoping to raise pounds 1m through an open offer and preference conversion. The two class of shares are 80p on Ofex; the rights price is 55p.