Small cap round-up: IS Solutions, William Sinclair, CBG

23rd Mar 2010 18:06

Online technology services provider IS Solutions is growing profits on the back of increasing managed services revenues. Two-fifths of the revenues of £9.78m in 2009 relate to managed services. Underlying profits, excluding amortisation and the costs of moving back to Aim in 2008, improved from £551,000 to £654,000. Revenues increased by nearly 11%. The final dividend of 0.77p a share means that the total dividend for 2009 is 10% higher at 1.1p a share. Horticulture and garden products supplier William Sinclair has provisionally agreed with Natural England about the future of the Bolton Fell peat bog operations. The interim agreement involves an advanced payment of £9m to Sinclair, which will be made on 12 April. There is still work to do on assessing the full compensation payable. Sinclair believes it should be much more than £9m. If no agreement is reached by the end of November 2011, then it will be referred to the Lands Tribunal for a decision. Corporate insurance broker CBG Group reported more than halved profits in 2009. Revenues slumped from £11.1m to £8.96m, while underlying profits fell from £2.25m to £1.03m. Around two-thirds of the annualised cost savings of £1.4m showed through in 2009.