MKM prepares to delist

QUOTED promotional goods and marketing company MKM Group will de-list from the Alternative Investment Market (AIM) on Friday after completing the disposal of its UK operations for £4.6m.

Manchester-based MKM struck a deal with York-based card protection business CPP Holdings last month.

The sale covers the bulk of MKM’s business – Leapfrog Group, which designs and develops loyalty programmes for blue chip clients such as its Airport Angel scheme, and in-house travel agent Concepts for Travel. The two ventures employ 45 people.

MKM has been left with its remaining trading activities in Australia, which remain under review, and shareholdings in the marketing firms Promodus and Stripe Marketing.

In the year to March 31 MKM’s UK business recorded turnover of £3.1m and a loss after tax of £314,000, which included a £219,000 write-off relating to an inter-company debt in Australia.