Small caps round-up: Ascent Resources, DCC, Newmark...

18th May 2010 11:03

Pre-tax losses widened sharply at Europe-focused oil and gas group Ascent Resources in 2009 as the company felt the pinch of lower commodity prices.Pre-tax losses grew to £10.57m from £4.5m the previous year on revenues that narrowed to £890,000 from £1.47m. Managing director Jeremy Eng said: 'With gas production on-line in Hungary providing underpinning revenues, we can dedicate our focus to developing the exciting opportunities we have identified within our portfolio.'Irish industrial conglomerate DCC posted a sharp rise in profits in the half year to March 31 as economic conditions improved in Europe.Pre-tax profits climbed by 20% from the same period a year previously to €164.9m on revenues that climbed by 5% to €6.72bn.Newmark Security, which makes screens used to shield bank tellers against armed robbers, said 'it expects to meet market expectations for the full year'. Shares in engineer and builder North Midland Construction climbed after it said group profitability before tax for the first quarter has increased by 32.6% to £600,000.Flooring specialist Headlam shares hit the deck Tuesday after results for the first 19 weeks of the year pointed to only a slow improvement. UK like for like revenue was down 0.5% due to the snow in January. Sales fell 6.9% in the first four weeks then rose 2.4% over the following 15.Public sector and education services provider Tribal Group slipped back after boss Peter Martin warned that softer conditions in its advisory markets due to the general election will result in a weaker first half.But he added the "significant" increase in committed income and the benefits of cost cutting should support a stronger second half and expectations for the full year outcome. Lonrho's agribusiness division has raised its stake in Rollex to 100% after buying the 49% it didn't own from the trustees of the De Robillard Family Trust.The firm thinks the agreed price of £4.62m is a discount to the current value of the shares being bought and represents a "fair and reasonable" price for Lonrho shareholders.Drug developer Ark Therapeutics is still talking to parties who've expressed an interest in discrete parts of the business, so remains in an offer period."With the company repositioned to generate value from its attractive portfolio of assets, management is focused on delivering tangible value for our shareholders in the near term," CEO Martyn Williams says.Ceres Agriculture Fund's net asset value per share has fallen 3.98% since the start of 2010, hit by the company's medium term fundamental traders specialising in sugar, as well as by discretionary macro traders focusing across all four agriculture complexes (grains, fibers, tropicals and livestock). "Some of these losses were offset by gains from the company's medium to long term fundamental traders in the grains and livestock markets," it said.