A healthy set of preliminary results from Jelf Group, the corporate healthcare, commerical insurance and financial services specialist, this week makes this recently AIM-listed vehicle worth a punt.

Its AIM flotation raised £2.1m net and the FSA has approved all its trading subsidaries, though the company is aware that it will need to apply further investment to maintain its compliance division which oversees all three sectors.

Group chief executive Alex Alway said he would "try my damned hardest" to keep compliance costs down. Operating margins prior to charging goodwill increased marginally, to 9.3% against 9.1% in 2003, despite a year of heavy investment, the company said. Alway said much of the investment was in creating the "multi-functional" compliance division.

Turnover increased by 26% to £8.46m from £6.72m in 2003. Earnings before interest, tax, depreciation and amortisation was up 24% to £0.88m from £0.71m in 2003.