Young voices ring out all around as I sit writing this in the vast foyer of Northampton's Royal and Derngate theatres, which are back in business with a vengeance after 18 months' closure for renovation work. The youngsters streaming out to my left have just seen Julian Clary in Dick Whittington, while those on my right have been to Pinocchio at the Royal.

While it cannot hope to emulate the film, Northhampton's home-grown Pinocchio is nonetheless magical, and a very sturdy piece of storytelling. As the curtain rises, puppet maker Gepetto (Dominic Burdess) bemoans the lack of business in his shop. He is not immediately interested in the log that his friend Maria (Claire Knight) brings him - a log that includes a very prominent nose. But soon he relents, and transforms the log into Pinocchio.

Many adventures follow, as Pinocchio is cruelly deceived by a fox (Ben Lewis) and a cat (Giulia Innocenti), then exploited by a slimy puppet show promoter (Christopher Staines). The cast is uniformly excellent, but special mentions must go to Lucien MacDougall, who plays Pinocchio's human shadow, and to Dafydd Huw James, who both appears as a cricket, and is also composer and player of the atmospheric music. At the matinee I saw, the young audience was transfixed throughout.

'When I ask, I want you to shout Hiya Dick'," commands Sarah the Cook over in the Derngate. Dick Whittington is just the right sort of panto for this cavernous auditorium - big, brash, glittery, and colourful. Grafted on to the standard storyline is Julian Clary, playing Spirit of the Bells: "I'm Dick's fairy godmother," says he.

Clary is wonderful at the panto game. Clothed in a succession of dazzling costumes, he establishes a strong rapport with the audience. He's backed by a crack team, including Ben Evans as Dick, Laura Evans as Alice, Tony Jackson as Sarah, and - especially good - Fogwell Flax as Winkle. This is the best star-vehicle panto I have seen in many a year.

Dick Whittington continues at the Derngate until Sunday, January 14, and Pinnochio is at the Royal Theatre until Saturday, January 13. Box office for both shows: 01604 624811.