Shares digital

As it entered its close period William Currie, a Coffeeheaven International (COH:AIM) non-exec, invested some £875,000 raising his stake to 12.1%. Currie, a former retail analyst, founded the Fragrance Shop, which was eventually sold to Peacocks.

Consistently loss-making Coffeeheaven has developed stores in Central Europe and claims market leadership in the Czech Republic and Poland (over 20% of the market). It is also building a presence in Latvia, Bulgaria, Slovakia, Hungary and Romania.

In H1, underlying sales rose 20%-odd, but attempts to build several markets simultaneously are expected to make early profits marginal. Seymour Pierce forecasts profits of £0.4 million rising to £1.1 million next year (EPS of 0.3p and 0.8p respectively).

Shares says: Medium-term potential is exciting.