Small caps round-up: Pan Pacific, Hotel Corporation, Dillistone

Revenue has started to roll in at quarry operator, Pan Pacific Aggregates, helping reduce first half losses. The British Columbian firm had revenues of £0.17m at the interim stage, having earned no revenue in the first half of last year. Meeting its targets of improved production and generating revenue, the group also narrowed its pre-tax loss for the period to £0.83m, down from £1.08m in 2009. William Voaden, managing director of Pan Pacific Aggregates, said: "While we remain in the pioneering and development stage, we are already achieving a positive gross margin."Cash reserves at the end of the reporting period had fallen to £0.28m from £0.38m a year earlier, but have since been boosted by the July fund raising to stand at £1.1m at the end of August. Hotel Corporation, the investment company that owns almost half of Puma Hotels, swung to a pre-tax loss of £8.85m for the six months to 30 June 10, compared to a pre-tax profit of £2.04m from the prior-year period.Half-yearly revenues grew from £0.99m in 2009, to £14.9m in 2010. Administrative expenses more than doubled to £1.80m.Recruitment software provider Dillistone has a strong pipeline of prospects after an improved performance in the first half of the year. Revenue rose 8% to £1.97m, with recurring revenues 1% higher than a year earlier at £1.21m, but 6% higher than the second half of 2009.Profit before tax rose to £0.38m from £0.35m. The interim dividend has been maintained at 3.5p.Prime Active Capital, the holding company that specialises in turnaround situations, saw first half losses narrow to £0.87m from pre-exceptional losses the year before of £1.89m. Revenue from continuing operations jumped to £17.1m from £9.1m. Since June the business has returned to cash generation and modest profitability, the company said.