X-ray eyes on better prospects

X-RAY technology company Bede has suffered a lean period in its key markets since it floated in 2000.

The company's X-ray technology is used to test computer chips, putting it in a sector that has been under a cloud since the tech bubble burst.

The company's focus on this struggling area has made life tough, but orders have picked up in the first quarter of 2004. Bede's management has weathered the difficulties by maintaining its technological edge and holding down costs.

This lean and mean approach has attracted several top investors, including AAA-rated fund managers Patrick Evershed, above, Giles Hargreave and Mark Slater.

All three jumped on the stock last July when the company raised £3.6m in a placing. Evershed bought 770,000 shares for his New Star Select Opportunities fund, but Slater bought heavily again at the end of last month.

Slater bought at the same time and again in April. His funds now control nearly 1.7m shares or 2.99% of the company. Hargreave's funds own 425,000 shares.

The shares hit a high of 33p in late 2003 but ended Friday at 19 1/2p.