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Small caps round-up: Quintain Eastates, Daisy, Vyke...

Fri, 09th Oct 2009 09:19

Property developer Quintain and its joint venture partner Lend Lease Europe have sold the 999 year lease of the Millennium Dome, for £24m to Trinity College, Cambridge. As a 49% shareholder in the Dome, which is now known as the O2 Centre, Quintain will get £11.8m which, together with other transactions undertaken since 1 April 2009, will bring the total amount of cash repatriated by the company to £55.3m.Communication services firm Daisy is trading in line with management expectations and said it continues to monitor and evaluate further appropriate acquisition opportunities.Shares in telecommunications and internet services company Vyke Communications surged after it said it had signed an agreement to supply its products in South America.Medical diagnostics company Omega said turnover in the six months to September 30 was about 9% higher than the same period a year ago at £2.87m, helped by strong sales of its Food Detective, which is used to test for wheat, lactose and other allergens.Shares in Endace moved higher after the network monitoring group said it expects to report first half revenues of about $13.7m and pre-tax profits of $500,000.Electrical component maker E2V said trading has continued in line with management expectations reflecting lower demand, the impact of which has been partially offset by cost reductions, particularly in the second quarter. Publishing Technology, which provides software and services to the publishing industry, is to team up with Japanese content solutions provider Sunmedia to launch an online publishing platform in Japan. The new service, PierOnline, will support a range of new features to Sunmedia's current platform.Pneumatics group Clyde Processes has secured a £1.1m order for Eastern Europe from an unnamed cement producer. CPS will supply this plant with a pneumatic conveying system that will be utilised to transport fly ash within their cement producing facilityRussian property group PIK saw a 77% decrease in market portfolio value to $2.86bn at end March, (January 1 2008: US$12.3bn). It blamed the depreciation of the ruble over time (38% drop); increased development cycles for projects (by 2-4 years); flat selling prices and construction costs for 2009-2010 years; higher discount rates given higher project execution risks in the current macroeconomics environment (3-7%) and lower starting selling prices with deferred pattern of presales towards the end of the development projects.ERP software group Imaginatik reports trading in the first half of the year finished with a strong second quarter and several significant contract wins. As announced at the time of the Company's AGM in July 2009, the board expects to report a loss for the six months to 30 September, but the board remains confident of a successful outcome to the year as a whole.Hambledon Mining's gold recovery, at 79.5% for the third quarter, was lower than anticipated. To determine the cause of this, an external consultant was engaged to conduct a thorough review of the entire metallurgical process. This resulted in a series of recommendations to improve the overall recovery that are in the process of implementation. Gold produced totalled 5,224 ounces with silver output at 12,103 ounces. Shares in WorkPlace Systems gained after it said trading improved significantly during the summer following the disappointing market conditions of early 2009 and the initial months of the current half-year.

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