Small caps round-up: Assetco, IS Pharma, Safeland

7th Dec 2009 12:05

Fire service equipment outsourcer Assetco's profits fell to £5.4m in the six months to September from £6.5m, though its underlying half year performance was significantly ahead of the comparable period.The core Integrated Support Services business delivered a 25% increase in profit to £3.9m as a result of both an expansion of our services and increased operating efficiency. IS Pharma's sales of liver disease treatment Variquel are growing strongly, not only in the UK and German markets, but also in the newly launched markets. Stated revenues to September were flat at £5.9m, but underlying revenues rose by 16%. Pre-tax profits after costs of the Variquel launch fell to £0.5m, down from £1.5m.Property group Safeland reported a loss in the first half of £897,000 (2008: loss of £2,109,000) with NAV per share down to 58p from 63p as at 31 March. There has recently been an overall improvement in market conditions, but this is unlikely to have a material impact on the group's results until the year ending 31 March 2011, it added.Software and IT services firm Sanderson said a profit of £901,000 last year turned into a loss before tax of £2m in the 12 months ended 30 September 2009 after £2.88m of amortisation and impairment of intangible assets.Chairman Christopher Winn said trading conditions were difficult in 2009, especially during the first half, although a "noticeable" upturn in business activity and order intake helped increase profit in the second half. Falkland Islands Holdings, which owns businesses in the South Atlantic territory, says profit before tax for six months ended 30 September rose to £1.2m from £1m in 2008.Chairman David Hudd said second half of the year revenues at the ferry business are expected to remain "steady", while the Momart fine art logistics business has a solid order book for the second half. The Falkland Islands (FIC) unit "looks set to enjoy buoyant trading in the second half as oil exploration gathers momentum and the benefits of the "new" West Store, flow through.