News

Small cap round-up: Parkwood, Intimas, Chelford, Platinum Australia

10 January 2008 15:49:00

Support services group Parkwood expects profits before exceptional items for 2007 to be slightly ahead of market expectations.

Turnover, including joint ventures, is forecast to rise by 13% to approximately £107m. The core businesses of Glendale and Parkwood Leisure have both continued to perform well, it added.

Lingerie manufacturer Initmas has failed to see any upturn in trading in the second half of the year and consequently it expects to report a greater loss than expected, though it will be less than the first half's £2.21m. The pre-Christmas period was extremely difficult and competitive, it says.

Software group Chelford has received a bid approach and is in preliminary discussions over a possible takeover. The talks are at an early stage and may not lead to a bid it added.

Shares in Platinum Australia jumped on the latest results from resource definition drilling on its 49% owned Kalahari Platinum Project. Assays from drilling at Sirius have again identified wide zones of good grade mineralisation, it said.

"Drill holes KP330, 332 and 333 are all located between holes which had previously intersected wide zones of mineralisation and confirm the continuity of these zones along strike," PLA Managing Director John Lewins said.

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