Small caps round-up: A&D, Accident Exchange, First Derviatives

19th Mar 2010 14:21

Romania-focused chemist group A&D swung strongly in to the black in 2009, with net profits of €19m compared with a loss of €2.3m, on sales up 3% to €514m."We are delighted to report a very strong set of results for 2009, particularly in light of the extremely difficult operating environment. The company's consolidated sales in RON [Romania's currency] increased by 18% and our operating profit grew by 166%. 2009 was also a very important year in terms of meeting several key strategic goals," A&D said.Vehicle replacement firm Accident Exchange's rental days for the four months ended 28 February 2010 were down materially at 251,000 (2009: 367,000). The group has not been operating profitably during the period under review. The board believes that with a leaner and more focused business that, if the refinancing of the Morgan Stanley Facility and asset backed lending facilities can be concluded satisfactorily, that referral volumes can be returned to profitable levels.First Derivatives has secured £1.29m of financial investment from Invest Northern Ireland (Northern Ireland's Economic Development Agency) in support of its ongoing research and development programme.