Small cap round-up: Watermark Global, Treatt, Gemfields ...

7th Dec 2009 09:56

Shares in Watermark Global jumped after the acid mine drainage treatment company said it had signed a co-operation agreement worth R5m (£406,000) for its subsidiary Western Utilities Corporation to provide engineering work for South Africa's Industrial Development Corporation.The strong US dollar helped essential oil supplier Treatt offset a decline in commodity prices to post a rise in revenues and profits in the year to September 30.Pre-tax profits climbed to £3.50m from £3.06m the previous year as revenues rose to £56.31m from £49.64m.Zambian emerald seller Gemfields posted a loss of $201m in the year to June 30 compared with $30.2m the previous year as it faced an impairment charge of $249m for one of its mines.Retail investor and developer London & Associated Properties said today it has sold the 'Mall' in Islington to real estate asset manager Prupim for £6.62m, representing a yield of 5.25%.Regional newspaper group Johnston Press has appointed Geoff Iddison, global head of e-commerce and m-commerce for credit card company Mastercard, to the board as a non-executive director.Martina King, who is currently a non-executive director, has indicated she will not be seeking re-election at the company's annual general meeting in April 2010.Western Australian fuel oil producer Spitfire saw losses before income tax almost halve in the year to 30 June. Loss before tax was A$1.44m, versus a loss of $2.83m a year earlier. Revenue eased to $1.21m from $1.25m.The company has recently started a gold exploration programme of its tenements in the Salmon Gums area after a geological assessment identified two regional prospective gold trends and the intersection of two regional faults. Trading in Venue Solutions' shares will be cancelled with effect from tomorrow after the company was unable to complete its financial accounts in the necessary timescale.