News

Shares in Gamingking jumped as the group exceeded £500,000 at EBITDA level for the first time in its history despite revenues sliding slightly.

Revenue for the year to April came in at £5.13m compared with £5.28m previously. But despite the shortfall, full year EBITDA exceeded £500,000.

Pre-tax losses came in at £6,000 compared with the profit of £51,000 in the same period last year.

Gearbox maker Torotrak said timing of programmes in the current financial year is expected to generate revenue build weighted more towards the second half of the year, reversing the pattern experienced last year.

Torotrak is currently in the process of negotiating licence agreements with customers in two of its principal markets. Both negotiations offer good opportunities for licence fees later in the financial year, it said.

It also announced today plans to place new shares with institutional investors and an open offer to existing shareholders, which will provide a total of £6.75m if fully subscribed.

Video telecoms equipment designer Scotty Group aimed higher after it won an initial purchase order from Eurocopter worth about €3.7m.

Under the terms of the contract, Scotty will develop its PV project with Eurocopter, with the first half of the project worth around €4.8m.

On the downside, the group said full-year results will be affected by the delays in receiving the contract with Eurocopter and the recently announced sale of its telehealth activities.

Drug developer Alizyme said it remains confident of concluding a number of transforming deals this year, as it pursues its goal of becoming a revenue and profit generating company.

In the six months ended 30 June 2007, Alizyme made a pre-tax loss of £13.2m compared with the loss of £6m last time.

No revenues were received during the period under review, compared with £1.1m this time last year, which relates to milestone payments received from Takeda.

Waterline Group said it has received notification that the management of the fitted kitchen supplier is looking to make an offer for the company.

The group said any offer remains subject to the recommendation of the independent directors to accept such offer.

It has instructed Mazars Corporate Finance to conduct a strategic review of options available to the group, in order to maximise value for shareholders. As part of the review, initial discussions have taken place with a number of parties, it said.

Oxonica said the contract termination with Petrol Ofisi will result in a shortfall in the nanomaterials group's revenues. It said sales will now fall short of market expectations for the first half of 2007 and for the year as a whole.

Telecoms solutions provider Vicorp expects to comfortably beat current broker projections for the full year 2007, based on the volume of business currently on hand.

"We are excited by the recent developments in the business, leading us to expect a significantly reduced loss for calendar year 2007," said the group.

Insurance consultant Charles Taylor said trading in the six months to June 2007 has been in line with management expectations.

"We have had a successful half year's trading and whilst the continued weakness of the dollar may affect our reported results, current trading remains in line with our expectations," it said.

Retail software specialist NSB Retail said the recent strengthening of the Canadian dollar against the US equivalent is likely to have a negative impact on full year results.

The group said it expects to report adjusted operating profit for the half year ended 30 June 2007 of not less than $10m, compared to $9.3m in the same period last year.