Small cap round-up: MTI Wireless, Safestore, London Capital

1st Mar 2011 10:59

An update from antennas for broadband manufacturer MTI Wireless saying that it has uncovered unexpected costs of $350,000 (£216,000) in the final quarter of last year got a bad reception from the market."Consequently, the board now expects that the full year pre-tax result for the year ended 31 December 2010 will show a loss of approximately $650,000," the company said.It said initial indications suggest most of the costs are one-off rather than recurrent.Safestore has announced that Peter Gowers is now the chief executive officer of the company, following the retirement of his predecessor Steve Williams. Gowers was previously the chief executive of the Asia-Pacific division of blue chip hotels group InterContinental Hotels.Spread betting firm London Capital Group, which trades under the name Capital Spreads, said that one of its 'white label' customers, Irish bookmaker Paddy Power, is contemplating the future of its spread betting offering Paddypowertrader.White label customers take London Capital's trading platform, prices and expertise and rebadge it. London Capital said that Paddypower trader currently accounts for 17% of active clients of London Capital Group.In the event that Paddy Power discontinues its spread betting service, London Capital would hope to transfer the bookmaker's spread betting customers over to Capital Spreads.