News

Small cap round-up: Blinkx, Ocean Power, Abacus

02 October 2007 09:31:00

Blinkx, Autonomy's demerged video search business, expects interim results ahead of the top end of analysts' forecasts after a strong first half.

"We're very pleased with our strong debut and anticipate that our results will be ahead of the top end of analysts' forecasts," said chief executive Suranga Chandratillake. "Our markets are growing extremely rapidly as on-line television becomes an integral part of daily life," he added.

Wave power station group Ocean Power Technologies gained after announcing that it has received additional funding of $1.9m for its on-going US Navy contract to install its PowerBuoy systems off the Hawaiian island of Oahu.

The additional contract award will primarily support the testing and monitoring of the next PowerBuoy system to be deployed at the offshore site. The project is for the installation, testing and grid connection of multiple PowerBuoys off the Marine Corps Base in Hawaii at Kaneohe Bay.

Electronic components distributor Abacus expects full-year results to be in line with expectations. "Trading conditions remain as reported earlier in the year and are in line with industry data that has been reported in the European markets in which Abacus operates," said chief executive Martin Kent.

"As a consequence the board expects financial results to be broadly in line with its expectations for the full year," he added.

Finance Ireland was lower after it announced the sale of its minority stake in Nua Homeloans to Investec. "Nua is a very successful originator of mortgages in the Irish market," said chairman and chief executive Billy Kane.

"However, given the current uncertainties in the securitisation market, the directors believe it is not in the best interest of shareholders to provide an open ended commitment of future capital to this business," he added.

Internet-based telephony group Coms's user minutes have gone up by over 80% in the last quarter and the group's revenues are ahead of the management's forecast for the current quarter.

"The resources of Coms and expertise of the management team is giving confidence to internet telephony (VoIP) product manufacturers to distribute their products through this specialist Vcomm channel," said Jason Drummond, executive chairman.

All data suppied by Digital Look (15 minute delay)




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.