TheMoodieReport.com

TheMoodieReport.com: "Alpha Airports Group shares closed +7.7% up at 83.50p on Friday, a day after trading recommenced on the London Stock Exchange. Alpha had been suspended from trading because of an auditor�s enquiry into the company�s annual accounts.

Shares rose 6p or +7.7% in the day after an initial fall upon relisting. Alpha�s shares were suspended on 25 April at 84.25p and fell to 77.50p on the first day back trading, 6 July.

The two-day performance will delight management. Many observers had expected an initial sharp fall in the share price due to institutional concerns over the circumstances leading to the share price suspension � perceived irregularities over the award of a contract by Excel Airways to Alpha last October.

The auditor�s resultant refusal to approve the annual accounts led to the resignations of Chief Executive Kevin Abbott and Finance Director Heather McRae.

But a Special Committee investigation led to the signing off of the accounts unchanged, and a statement that the issues at the heart of the investigation did not affect the results for the year in terms of profit or cash. Neither did they give rise to any advantage to any member of staff or the Alpha Board.

New CEO and Acting Chairman Peter Williams said last week: �With strong finances and sound trading prospects, Alpha is in good shape and has a bright future.�

On the brief evidence to date, the City seems to agree. "