UK small caps hold steady in morning trade, while junior-listed AIMshares rise 0.1 percent, both outperforming a 0.3 percent drop on theblue chips.
AIM-listed Mobilityone Limited slips 17 percent after posing a firsthalf after tax loss of 0.12 million pounds ($192,000), compared to a profit ayear earlier. The company, which provides e-commerce infrastructure paymentsolutions, said losses in Indonesia were partly to blame, adding it isconsidering discontinuing operations there.
On the flip side, Porta Communications jumps 18 percent aftergenerating more revenue in the first half of 2013 than in the whole of 2012, andforecasting an even better performance in the current six months.
"Interims demonstrate very strong momentum," write analysts at N+1 Singer.
"Based on the suggested EBITDA values above, the stock is trading on circafour times EBITDA for 2014, a very large discount to peers. This looksunwarranted give the very strong revenue momentum being reported today and weexpect the stock to start to price in execution."
Reuters messaging rm://antonina.vorobyova.thomsonreuters.com@reuters.net($1 = 0.6249 British pounds)
Mobilityone (MBO)