Small caps round-up: Mecom, red24, NetDimensions

red24, a provider of security assistance services, has said the firm enjoyed a satisfactory start to the fiscal year, with sales and profit before tax both marginally ahead of last year. Its Food Safety product continues to win new clients and the firm has now been retained by a ninth underwriter. As a result it has appointed a food safety specialist in the US and is on course to achieve the revenue goals set for this product last year. The company has opened a small office in New York and has agreed, in principle, to acquire the ownership of its Cape Town premises. Publishing group Mecom returned to the black with profit for the period coming in a €43.1m compared to a loss of €10.1m the previous year, when profit from discontinued operations is factored in. This was despite a decline in total revenue from €532.5m to €492m, dragged lower by a 15% decline in advertising revenue which were substantially affected by recessionary economic conditions in the Netherlands and related difficulties in print advertising. Costs were 6.0% lower at €454.1m compared to €482m. NetDimensions, a global provider of performance, knowledge and learning management systems, has reported strong trading during the first half both in terms of financial and operational progress. Key contracts and agreements signed during the period have already made a contribution to the group and as a result revenue, profit before tax and earnings per share are expected to be in line with management expectations, with cash at June 30th of around $7.7m (H1 2011: $5.9m). Trading in the second half has so far been in line with full year market expectations. NR