Small caps: Nautical, Innovation, Kalahari, Reliance, Swallowfield

9th Sep 2010 14:18

Shares in Nautical Petroleum rose after positive results from the Kraken appraisal well in the North Sea.Business process outsourcing company Innovation has won a 5-year contract with car rental firm Enterprise to help with accident management and other issues.Biopharmaceutical group Reliance GeneMedix saw losses narrow in the year to March 31 due to lower expenditure on drug development.It posted a pre-tax loss of €2.5m, down from €4.1m the previous year, as revenues fell to €410,000 from €608,000.Swallowfield, a supplier of cosmetics and toiletries, saw profits fall in a tough market in the year to June 30.Pre-tax profits fell to £921,000 from £1.09m, even as revenues climbed to £52.5m from £49.1m.'Swallowfield has performed robustly against an exceptionally tough background of customer uncertainty and rising input costs resulting in a difficult market,' chief executive Ian Mackinnon said.