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"This achievement is particularly satisfying, validating the board's decision to continue growth in staffing through 2011 and 2012. As we head into 2013, we are approaching our plans with the same mindset and ambition, tempered by a clear understanding of the need to maintain a strong financial footing." Sopheon said it made significant progress during the year with a number of developments. Last week the group unveiled a major new product release and is working on an expansion strategy after securing an additional �1.1m of convertible debt finance. A German business partner was also acquired in an effort to strengthen the group's position in the European market. "Germany is an increasingly significant market for Sopheon, representing a quarter of our European revenues in 2012," Sopheon said.

Software company Sopheon expects annual revenues and profits to exceed market forecasts, the group said in a trading update Wednesday. Revenues for the year to December 31st, are estimated to hit above the �12m mark, up from �10.3m the previous year. Earnings before interest, taxes, depreciation, and amortization are pegged at over �1.6m. "We are pleased to deliver solid growth in an economic climate that remains tough," Chairman Barry Mence said.

Meanwhile, International Mining & Infrastructure Corporation purchased an additional 1.1m shares in Afferro. Shares were up 0.59% to 85.00p at 8:50 Wednesday.

Afferro Mining has reported encouraging results from its Akonolinga project, an iron ore exploration programme in Cameroon, Africa. The group identified four drill targets and discovered 50 magnetic anomalies at the site. Surface sampling identified high grades of up to 58% iron, while pits and trenching found mineralised intersections with grades up to 55.9% iron. Twenty-five trial pits and one trench were excavated over prioritised magnetic anomalies to substantiate the preliminary magnetic interpretation. Iron mineralisation was encountered in the majority of the pits. "The results from Akonolinga demonstrate the potential at the fourth of the company's iron exploration permits, as Afferro looks to create value across its portfolio of projects in Cameroon," Chief Executive Officer Luis da Silva said. "Akonolinga demonstrates strong potential transport synergies with our flagship project, Nkout, as it lies alongside the proposed rail corridor, which Afferro intends to use for transfering iron ore from Nkout to the planned terminal at Kribi. Akonolinga provides further optionality and exploration upside."

In conjunction with the facility, Trapoil entered into oil price hedging arrangements for the duration of the loan. Trapoil said it would provide greater visibility in respect of future cash flows arising from a significant proportion of the group's near term forecast production as it continues to build its exploration and appraisal work programmes. "I am delighted that we have secured this debt finance from an affiliate of GE Energy Financial Services supported by hedging arrangements with the BP group," Mark Groves Gidney, Chief Executive Officer of Trapoil said. "The facility will assist with the further appraisal and development of the promising assets within our existing portfolio and the exploitation of good exploration opportunities alongside our partners where we earn carried interests. We look forward to building on our new relationships with GE and BP."

Trapoil said Wednesday it secured a 20m dollar loan from GE Energy to fund developments in the UK North Sea. The oil and gas company entered into a three-year senior secured borrowing base facility agreement with an affiliate of GE Energy Financial Services, supported by associated hedging arrangements with Britannic Trading, a subsidiary of BP International. The facility will be available immediately and used for works on the Athena and Crazy Horse assets. The terms of the loan is linked to the economic performance of the group's interest in the Athena and Lybster fields.

Medgenics has enrolled the first patient for its clinical trial of its INFRADURE Biopump product, which is used for the treatment of hepatitis C. INFRADURE is a subcutaneous autologous skin tissue implant for the continuous production and delivery of interferon-alpha (INFa )needed by hepatitis patients. It was developed by Medgenics to treat hepatitis B, C and D, to replace months of weekly injections of INFa, along with the serious side effects. The initial phase of the study is being conducted at the Tel Aviv Sourasky Medical Center in Israel. The study is recruiting patients with hepatitis C of genotypes 2 and 3, who would normally receive weekly injections of INFa together with a daily dose of the oral antiviral drug ribavirin. Patients will receive a single implantation of INFRADURE Biopumps in place of the weekly injections, together with daily ribavirin. "Medgenics believes that the results of this study will assist in developing and calibrating INFRADURE for use in additional types of viral hepatitis, as well as other indications," the company said.

GB Group, an identity management specialist, confirmed Wednesday that its DataAuthentication and DataSolutions businesses are both trading well and are ahead of last year. As such, the group said it expects that its results for the year ending March 31st will be in line with current market expectations.

"There is still a lot to be delivered in the months ahead but the Directors remain cautiously optimistic. We will continue to pursue our stated strategy and we feel confident of achieving further growth this year." An interim dividend will be recommended "in due course", the firm said. The company continued: "The group looks forward to the outcome of the Brown review which will determine how and when rail franchising activity returns to normal. The directors believe the group remains well positioned for future growth and continues to benefit from an excellent financial position, a diverse product offering, and a great pipeline of acquisition prospects that will stand Tracsis in good stead for the future."

Tracsis, an AIM-listed technology group, delivered a positive update on Wednesday, but the contents fell short of investor expectations. The group said trading in the six month period ending January 31st has been buoyant, with revenue set to be in excess of �4.0m (H1 2012: �3.7m). It is expected that both adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) and profit before tax will both be ahead of the same period last year and, as such, trading has been in line with expectations. The group also said that the balance sheet has remained "robust", with cash balances in excess of �8.5m and the group remaining debt free. John McArthur, Chief Executive Officer, said: "The group has produced further growth in the period and is trading in line with expectations at the half year point.

WPP Group: Jefferies raises target price from 800p to 1150p and upgrades from hold to buy.

Workspace Group: Jefferies ups target price from 287p to 317 and maintains a hold recommendation.

William Hill: Peel Hunt moves target price from 332p to 374p keeping a hold rating.

Travis Perkins: Seymour Pierce increases target price from 1150p to 1350p and leaves its buy recommendation unchanged. Panmure Gordon takes target price from 1200p to 1350p maintaining a buy rating.

SThree: Credit Suisse revises target price from 260p to 350p upgrading to neutral.

Rio Tinto: Deutsche Bank raises target price from 4400p to 4680p staying with a buy recommendation.

Renishaw: Numis increases target price from 1385p to 2000p keeping a hold recommendation.

PZ Cussons: JP Morgan ups target price from 310p to 370p and reiterates a neutral rating. Investec takes target price from 335p to 380p maintaining a hold recommendation.

Premier Farnell: Credit Suisse moves target price from 195p to 240p and upgrades to outperform.

New World Resources: JP Morgan cuts target price from 210p to 150p maintaining an underweight rating.