Small caps round-up: Argos, Coal of Africa, Galleon...

13th Sep 2010 14:40

Losses widened at Argos Resources in the half year to June 30 as the Falklands Islands-focused oil and gas group ramped up its activities in the area.The company, which joined AIM in July, saw losses widen to $247,546 during the period from $77,567 the previous year.The license Argos is exploring adjoins those of Rockhopper Exploration and Desire Petroleum, who other London-listed companies seeking oil in the region.Shares in Coal of Africa jumped after an agreement on a swap with mining giant Rio Tinto was approved by the South African government. The swap extends Coal of Africa's Makhado project.Shares in Galleon moved ahead after the entertainment media company said it is to launch a reality TV show that aims to find a top female golfer, with former ladies world number one Lorena Ochoa as an 'endorsement partner.'Losses widened at Individual Restaurant Company, owner of the Piccolino and Restaurant Bar & Grill chains, in the half year to July 4 with the football World Cup among the factors keeping diners away.Pre-tax losses widened to £2.7m from £620,000 in a comparable six month period the previous year, as revenues fell to £24.6m from £25.1m.Elsewhere in restaurant chains, Richoux, which operates Richoux, Zippers and Frankie's Easy Diner, moved into profit in the 28 weeks to July 11. Pre-tax profits totalled £441,000, against a £1m loss over the same period the previous year, even as revenues were broadly flat at about £2.7m.Audiovisual technology group Mirada has revealed that the unnamed European telecommunications company it signed a research and development contract with in March is Ericsson. The shares soared after the announcement.It will work with Ericsson on the delivery of TV services such as on-demand video. The deal will 'significantly increase mirada's turnover during the next five years through licensing, support and integration fees,' the company said.