K3 Business Technology Group Share News (KBT)

Shares in InterCytex plunged after the regenerative medicine firm said ongoing discussions relating to offers to acquire certain parts of the business are not expected to result in an offer for the whole business. Logistics software firm K3 Business Technology said it has traded in line with expectations despite the tough economic environment.Services revenues in the first quarter were lower than anticipated but picked up in the second quarter, the firm said.It said its manufacturing software division is trading robustly, with average order values in the first six months significantly higher than the comparable period last year.Market researcher Research Now improved midweek on news that pre-tax profit jumped 43% to £3.5m in the six months ended 30 April.Revenue was 24% higher during the period to £23.6m as the firm experienced growth across all markets. "Looking forward, we remain positive that 2009 will be another year of profitable growth," said boss Chris Havemann.Valiant Petroleum's had a good day as it said first oil from the Don Southwest field has been achieved and the two production wells are on-stream.The company holds a 40% interest in Don Southwest in UKCS Licence P.236, Block 211/18a, which is operated by Petrofac.Xtract Energy has upped its stake in Turkish joint venture Extrem Energy by paying $1.75m for 7% of the business, taking its holding to 27%.It has an option, announced last week, to increase its interest to 34%. Xtract expects to complete the remaining subscription on or before 5 August, pending certain conditions. Wensum confirms it has entered administration after failing to find enough cash to meet its short term working capital requirements. A new subsidiary of Kashket Logistik Unicorp Limited, in which Wensum chairman Stephen Dorrell and CEO Paul Curtis each own 15%, has paid £7.9m in cash for the business.Ukraine real estate investment company XXI Century has had its shares suspended after delaying publication of 2008 results until 20 July, past AIM's 30 June deadline.Its auditors, Baker Tilly Klitou, need time to complete their review of documentation approving restructuring of its $175m 10% Guaranteed Secured Notes due 2010.European commercial real estate investor Carpathian is better Wednesday after it paid €6.2m in cash for Poldrim, the owner of land adjoining Carpathian's Promenada shopping centre in Warsaw, Poland.The company says Promenada is one of its largest and most valuable assets. It also denied press speculation that has sold four Hungarian shopping centres to MKB Bank.Insurance and risk consultant Charles Taylor Consulting said the group has continued to trade in line with management's expectations. It added however that the performance of the management division continues to be impacted by the effect of lower US payrolls on Signal's revenue.Laser systems developer CustomVis said it expects revenue for the year to be slightly higher than the market expectation of £1.7m. The group also announced today that it signed a contract for a further cash sale of its Pulzar Z1 laser.Construction and property consultancy firm Cyril Sweett rose after it met market expectations by beating its past performance in terms of revenue and profitability.Pre-tax profits before exceptionals rose to £5.96m from £5.86m before on revenue that rose 26% to £78.9m. After exceptionals, pre-tax profit came in at £2.20m (2008: £5.86m)Matra Petroleum said its Russian subsidiary which operates the Arkhangelovskoe licence has received formal approval from the authorities for an area extension to the north of the current licence boundary. Additionally, an extension to the licence period to the end of 2010 has been granted.Ark Therapeutics gained after it signed an agreement with private Finnish biotechnology company Oy Lx Therapies to produce Vascular Endothelial Growth Factor C in an Adenoviral Vector (Ad VEGF-C). Gold miner Medusa Mining saw its shares glisten Wednesday after issuing a new resource estimate for the Co-O mine in the Philippines. The Joint Ore Reserves Committee (JORC) compliant resource estimate for the mine has been increased by 15% to 1,380,000 ounces at 10.8 g/t gold from the previous estimate made six months ago.Personal injury claims assessor Mobile Doctor Group saw profit before tax soar in the six months to 31 May to £0.67m from £0.02m a year earlier. Revenue jumped 46% to £14.06m from £9.63m."We now have a highly scalable low-cost platform for growth and continue to seek suitable opportunities both organically and via acquisitions that meet our criteria for investment," said Matthew Game, chief executive.IT services and technology company Morse has appointed Guy Millward as its new group finance director. Millward was previously group finance director at logistics software specialist Kewill.Africa and Australia focused mining exploration and mineral investment company Red Rock Resources said that Jupiter Mines, a mining company listed on the Australian Stock Exchange in which it holds a 15.2% stake, has raised A$7.81m through the placing of 48m ordinary shares with a new strategic partner.Shares in Braemore Resources jumped after the nickel and platinum miner announced revisions to its ConRoast Technology Agreement with Mintek.