News

Small caps roundup: Multimedia TV, Evolutec, Water Hall Group

12 September 2006 12:23:00

Multimedia Television has yet to secure an acquisition target and has been warned that shares will be suspended unless a deal is concluded by 23 December 2006.

It will then have a further six months to complete an acquisition or will be delisted.

To reduce debt the company has decided to release its managing director and finance director. A new non-paid director will be appointed and, along with the chairman, will oversee potential acquisition targets.

Pharmaceutical firm Evolutec said during the first half of 2006, it has commenced Phase II trials for its lead product development candidate, rEV131.

In the next 12 months, it intends to deliver 4 clinical trial results with rEV131 and progress rEV576 into clinical development. Pre-tax losses increased to £5.9m for the half compared with £1.9m in the same period last year.

Quarrying firm Water Hall Group said turnover rose as gravel reserves remained sufficient and the skip collections business improved, resulting in a pre-tax profit of £237,000 for the half year compared with £149,000 previously.

Printing specialist Litho saw shares slump as pre-tax profits for the half year was relatively flat at £550,000 from £570,000 in corresponding period of 2005 on sales of £21.7m from £22.8m.

Online security group Surfcontrol said it exceeded its full year 2006 guidance at all levels during its year of restructuring. Revenue for the year rose 4% to £101.9m but selling expenses and admin costs saw pre-tax profits fall to £749,000 compared with £6.9m last year.

3D mobile games publisher Superscape said it continues to achieve quarter on quarter revenue growth in line with expectations. Revenues for the first half to July are anticipated to be around £4m.

The group also announced that CFO Alastair Marsh will be leaving the group before the end of the current financial year.

Bathroom suite distributor Qualceram Shires swung into interim pre-tax profits of €1.9m compared with the €3.3m loss last time on turnover that rose slightly to €52.1m from €49.7m.

Information, communication technology firm Ovum announced the acquisition of advisory firm Orbys Consulting.

All data suppied by Digital Look (15 minute delay)




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