musicMagpie PLC had its best day in the stock market for months as it confirmed a bumper day of Black Friday trading had turned its second half around.
Shares in the second-hand mobile phone, TVs, video games and books reseller leapt 22% to 14p as it said underlying profits this year would now rise by 15% to £7.5 million.
The group also eased fears that its growing rental arm was proving a drag on cash, saying both net debt and balance sheet leverage had fallen over the year.
In a statement, the AIM-listed group said it was encouraged by the second-half performance and “remains confident in the group's strategy and in its medium-term prospects”.
BT and European investment group Aurelius both looked at the group late last month but neither decided not to make an offer.