Small cap round-up: Metal-Tech, Firestone Diamonds, Belgravium

2nd Sep 2010 15:31

Metal-Tech, which produces and recycles Tungsten, saw losses narrow in the six months to June 30 as demand for the speciality metal picked up following the downturn.Pre-tax losses narrowed to $5.4m from $7.2m over the same period the previous year. Revenues climbed to $21.3m from $20.4m.Shares in Firestone Diamonds sparkled after the Botswana based diamond miner and explorer said operations at it s BK11 project were ahead of schedule. Production has begun and the company has already recovered a 13.74 carat stone.Real time data capture systems developer Belgravium Technologies is expecting a return to sales growth in the second half of the year after turnover in the first half fell to £3.66m from £4.29m a year earlier as customers delayed signing contracts. Profit before tax collapsed to £0.03m from £0.14m."The first half saw a continuation of previously announced trends in our business, namely a subdued level of order intake as customers' financial concerns weighed on capital expenditure decisions," said company chairman John Kembery.