News

Small caps round-up: Networkers, Redhall, Imaginatik

21 February 2008 12:07:00

Telecoms and technology recruitment firm Networkers said it expects profits to be slightly above the latest market expectations for the year.

It said it continues to enjoy strong demands from its clients both in the UK and internationally and is trading strongly going into 2008.

"The group's stated strategy of focussing on higher value business within the UK, and expanding its international presence particularly within emerging markets of Africa and Asia, continues to bear fruit, with the company showing both improved gross margins and cash flows during the past 6 months," said the group.

Engineer Redhall is trading in line with expectations and said it has been pre-qualified for two projects totalling £200m at Sellafield.

The group added it is in discussions with potential key strategic partners in order to increase the scope and growth of its nuclear business.

"These discussions should strengthen Redhall's presence within the broader European nuclear services market," said chairman David Jackson.

Software firm Imaginatik said pharmaceutical firm Pfizer has agreed to subscribe up to £500,000 for new shares in the company.

The group said the funding will be used to expand its enterprise social networking and collaboration technology.

Pfizer, which has been using Imaginatik's software since 2005 in its R&D unit, is also purchasing 10,000 new licences of Imaginatik's Idea Central software.

Shares in Cue Energy were restored after Cue Energy conditionally agreed terms with private Australian firm Oreion for a reverse takeover.

Oreion will raise funding and seek partners in order to enable the continued commercialisation of the PEM Technology. Cue will issue 50m shares at an issue price of 2p to the shareholders of Oreion.

Jubilee Platinum said it was pleased with another good borehole result from the prospective Ambodilafa property in Madagascar. It said the "borehole ALF008 has intersected nickel-copper sulphide mineralization on the Ambodilafa prospect at 101 metres with higher grade intersections."

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