Small caps: Paddy Power, Avis Europe, Plexus...

18th May 2010 14:04

Irish bookie Paddy Power says 2010 has seen very strong revenue performance in online (total gross win (ex Australia) +32%) and good bet volume growth across all channels. "Following a run of adverse sporting results in 2009 the group's sportsbook gross win percentages have returned to normal expectations in the year to date," it added.Hire car group Avis reports a good start to the year despite the disruptions to travel due to adverse weather conditions and the volcanic ash cloud in April. Given the disruptions, billed days, our measure of volumes, are encouragingly currently only slightly lower than prior year, it added, with a good performance in the UK, France and Germany.Investment firm Evolution Group said total income and operating profitability are ahead of the comparative period in 2009 despite some "extremely" challenging market conditions experienced in the year to date."The recent financial market turbulence is a reminder of how the short term uncertainties stemming from the ongoing unwinding of the global structural imbalances may continue to provide challenging trading conditions for some time. The group is confident, however, that its growth plans remain on track," it said.The slanging match between Pyrrho and bit target Liberty, the luxury goods retailer, continues. Pyrrho denies its offer for Liberty was "highly conditional" and said it was never told a higher offer existed. Liberty said yesterday that Pyrrho "had ample opportunity" to increase its proposed 185p a share offer but refused to do so on an unconditional basis. It has since received an offer from Pyrrho that is at "a higher aggregate price" than BlueGem's 186p a share. Plexus Holdings has reached agreement with Senergy, a leading worldwide energy operator, to supply its proprietary POS-GRIP wellhead technology and mudline suspension systems for exploration activities in the North Sea. The contract is worth approximately £700,000, which is subject to completion of relevant terms, with revenues expected to commence 31 July. Rental company Northbridge says enquiries and quotes for the sale of manufactured units are improving compared with the levels of last year. In addition rental demand continues to increase in nearly all our markets.Oil and gas explorer CDS's directors say its financial situation is not appropriate for an AIM quoted company and it will cancel its listing on 23 June.