News

Small cap round-up: Pathfinder, Innovation Group, ITM Power

29 June 2007 16:53:00

Property firm Pathfinder rallied after announcing it returned to full-year profits helped by the sale of its site at River Quarter, Manchester.

Pre-tax profit rose to £2.3m compared to a loss of £1.2m last year. Turnover came to £17m up from £753,000 last time. The group's net assets stand at £11m compared to £8.2m previously.

"At this time, the board has decided not to pay any dividend, as it is in the best interest of the group to reinvest all monies and concentrate on increasing the net asset value of the group," the group said.

Outsourcing and software solutions provider Innovation Group was also up after announcing it won a contract with Royal & SunAlliance, worth more than £25m.

The contract has a lifespan of five-years and will commence in July.

Fuel cell technologies firm ITM Power rose after it said it is making good progress in the design and construction of a 'home refuelling' system.

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