Planet Payment Inc is on course to generate cash from operations in the second half of 2009. The fourth quarter tends to be strongest for the multicurrency payments processor because it encompasses the Christmas period. Third quarter revenues rose 16% to $11.75m and the pre-tax loss was reduced by more than two-thirds to $805,000. There was a small operating cash outflow in the third quarter. Planet will still report a full year loss but Daniel Stewart forecasts an underlying profit of nearly $5m in 2010. Alphameric says that its 50%-owned subsidiary Amalgamated Racing has successfully defended proceedings in the High Court relating to its acquisition of horse racing media rights. The claimants argued that the rights had been acquired in contravention of competition law but they were not allowed to appeal the previous decision to dismiss its action by the Court of Appeal. This ends the legal proceedings. Outsourced pharma services provider Fulcrum Pharma reported a swing from profit to loss in the year to August 2009. Reorganisation costs of £679,000 pushed Fulcrum into loss. Revenues grew from £14.8m to £16.8m thanks to a strong performance in Japan. The loss of £168,000 compares with a profit of £454,000 in the year to August 2008. There was net cash of £1.06m at the end of August 2009. DQ Entertainment has signed a deal with Sony Pictures Home Entertainment for the distribution of three of its animated properties in South Asia. Indian clean energy generation company Greenko has renegotiated its tariff for electricity generated by two 8MW biomass plants. The tariff has increased by 20% to Rupees 3.90/kwh. The increased price has been back dated to 1 April 2009. London Mining, which joined AIM on 2 November, has resolved its dispute with the government of Sierra Leone and African Minerals over the Marampa iron mining licence. London Mining expects to decide about the development of Marampa by the end of 2009 following final ratification of new fiscal incentives in the Sierra Leone parliament.
