Midas -Joanne Hart's opinion2 Jul 2009 18:07
If Akers is based in America but it joined Aim in 2002, one of the first US businesses to float on the junior London market. The company made £1.6 million profit before tax last year and analysts predict this figure will double in 2009, with further substantial gains pencilled in for next year.
Akers' main challenge is to find partners to help market and distribute its products in America and overseas. This should prove easier, following the appointment of Thomas Nicolette as chief executive last year. Nicolette is highly experienced and was previously chief executive of the company, KNOGO, which pioneered the anti-shoplifting tag.
Midas verdict: Akers Biosciences is trading at 20.5p but supporters of the company believe the price could easily hit 100p over the next year or so. Each of the group's products has serious potential and could generate tens of millions of pounds in revenue if properly marketed and sold. There is also a strong possibility of bid action in the future. Buy.
What a recommendation and I believe this is a bargain at the present time.