NewMedia Spark, the AIM-listed technology investor that has been up for sale for more than six months, boosted its cash balance for the year ending March 2003 to £52m (€74m), nearly 40% higher than its market capitalisation.

Cash balances at NewMedia rose £10.2m in the year, largely due to the sale of its 11% stake in Tullett & Tokyo Liberty, the interdealer broker bought by rival UK stockbroker Collins Stewart earlier this year for £24.5m.