Small Cap round-up: Concurrent Technologies, Handmade, Astek Group ...

15th Apr 2010 16:13

Concurrent Technologies reported a slightly lower profit in 2009, but that was mainly due to a bad debt provision of £279,000. Concurrent designs and manufactures high performance computer products for the defence, telecoms, aerospace and health sectors. Profits declined from £2.95m to £2.8m after the bad debt charge. Revenues edged up from £12.62m to £12.85m. Exports account for 87% of revenues. The defence sector remains strong and telecoms and industrial sectors are "showing sustainable recovery". Dental products supplier Astek Group is going private with independent shareholders being offered 0.625p a share in cash. The bid values the company at £437,000 but the management (Alan Segal and Mark Shupac) and their families are retaining their shares and they will be the only shareholders left after the other shares are acquired via a scheme of arrangement.Gardening products supplier William Sinclair says trading has been positive in the six months to March 2010. Like-for-like peat-free compost sales are 44% ahead. Peat-based compost sales have risen 1% and this is still the largest part of the business. The overall market has been weak so these are good figures. William Sinclair has provisionally agreed with Natural England about the closure of the Bolton Fell peat bog operations and the compensation due to the company. It has received an advance payment of £9m but believes that the total payment should be much more. Almorah Services Ltd is interested in bidding for film producer and library owner Handmade. Almorah, which is not registered in England and Wales, has not made a formal offer. At the 7 January 2010 Handmade shares were suspended 9.5p each, which valued the company at £22.1m. There is no certainty that a bid will be as much as 9.5p a share. Security films supplier Pentagon Protection has been appointed the exclusive supplier of Unival blast protection technology products in the UK. These include the HEDD1 handheld explosive detection device, the PWJ1 portable jamming system and night vision and thermal imaging products.