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UK SMALLCAP ROUNDUP: Eckoh Sees Return To 1H 2011 Profit

Mon, 21st Jun 2010 16:00

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps ECKOH PLC (ECK.LN), a voice recognition specialist, expects to return to a profit in the first half of fiscal 2011 after posting a narrowed pretax loss for the full year ended March 31. The company narrowed its fiscal 2010 pretax loss to GBP197,000 from a loss of GBP1.37 million a year earlier. Finance Director Adam Moloney told Dow Jones Newswires the company is now trading profitably and expects to report a pretax profit for the current fiscal half-year. At 1430 GMT, shares +0.13 pence, or 2.6%, at 4.88 pence. GW PHARMACEUTICALS PLC (GWP.LN) said it will apply to sell multiple sclerosis medicine Sativex in other European countries during the second half of 2010, following its launch in the U.K. GW said late Friday that Sativex, which is derived from cannabis, gained U.K. regulatory approval following a review of clinical data that showed it reduced symptoms of spasticity in multiple sclerosis patients. At 1430 GMT shares -9 pence, or 6.4%, at 132 pence. PHOTO-ME INTERNATIONAL PLC (PHTM.LN), a photo booth operator, was Monday fined GBP500,000 by the U.K. Financial Services Authority for failing to keep investors up to date about poor trading during 2006 and 2007, in the largest fine of its type ever issued by the markets regulator. The FSA said Photo-Me's failure to disclose material information to investors promptly led to a 44-day false market in its shares. Photo-Me said it won't challenge the FSA's decision because of the costs and time involved in pursuing an appeal but added the FSA underestimated the difficulties it faced updating the market at the time. It didn't elaborate. At 1430 GMT shares -0.25 pence, or 0.7%, at 33.5 pence. CRAWSHAW GROUP PLC (CRAW.LN), a U.K. butchery firm, said trading in its retail stores continues to be ahead of budget, with gross margin up three percentage points on a year earlier in the fiscal year to to date. It has begun a search for new stores and has recently agreed terms on what will be its first new store in 2010. At 1430 GMT, shares flat at 166 pence. PROVENTEC PLC (PROV.LN), a steam-cleaning company, said it is considering entering administration because it won't be able to pay a GBP600,000 interest payment on loans due by the end of June. At 1430 GMT, shares suspended at 27.5 pence. KEWILL PLC (KWL.LN), a logistics software company, posted an increase in fiscal 2010 pretax profit, reflecting strong sales growth in Asia and better cost control. It added it is on the hunt for more acquisitions. At 1430 GMT, shares +1 pence, or 0.85%, at 119 pence. FINDEL PLC (FDL.LN), a U.K. home shopping and educational supplies company, cut the pretax profit results for fiscal 2009 after finding accounting errors in its education division. Findel said the errors are estimated to have reduced its pretax profit for the year ended April 3, 2009 by GBP6.4 million and net assets by GBP20.6 million. At 1430 GMT shares flat at 18 pence. SHED MEDIA PLC (SHDP.LN), a television show maker, said it is in takeover talks with media giant Time Warner Inc. (TWX) The U.K. company, which produces programs like drama Waterloo Road and reality shows like Supernanny, said there is no certainty an offer will be made. At 1430 GMT shares +4.5 pence, or 5.8%, at 82.5 pence. DOMINO PRINTING SCIENCES PLC (DNO.LN), a printing equipment manufacturer, said fiscal first-half profit more than doubled after its customers resumed spending on new printers, ink and spare parts. The company said it is increasing investment in new capacity and products in an effort to win more business. At 1430 GMT shares -2 pence, or 0.4%, at 463 pence. AKERS BIOSCIENCES INC. (AKR.LN), a diagnostics company, posted a much wider full-year pretax loss due to a hiatus in U.S. government departmental spending as federal funds were diverted to aiding economic recovery. At 1430 GMT shares flat at 11.5 pence. MINERA IRL LTD. (MIRL.LN), a Peru-focused precious metals miner, said it agreed a $20 million loan with bank Macquarie Group Ltd. (MQG.AU) after scrapping a share sale. At 1430 GMT shares -1.5 pence, or 2.6%, at 56.5 pence. MEDIA SQUARE PLC (MSQ.LN), a marketing communications group, said it has agreed new three-year, GBP26.6 million banking facilities with Bank of Scotland, part of Lloyds Banking Group PLC (LLOY.LN). At 1430 GMT shares +0.25 pence, or 2.5%, at 10.25 pence. INTERIOR SERVICES GROUP PLC (ISG.LN) said it has acquired specialist Moscow-based fit-out company Olson Enterprises CJSC for a nominal amount as it looks to expand its market share in the Russian capital. At 1430 GMT, shares flat at 166 pence. DJ UK Smaller Cos +0.6% AIM +0.3% -By Hannah Benjamin, Tommy Stubbington, Rachael Gormley & Jason Douglas, Dow Jones Newswires; +44 (0) 20 7842 9298; uksmallcaps@dowjones.com (END) Dow Jones Newswires June 21, 2010 11:00 ET (15:00 GMT)
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