Small caps round-up: Avon Rubber, International Ferro Metals, Mobile Streams...

25th Jan 2011 12:16

Engineering group Avon Rubber said the first quarter of 2011 is showing a better financial performance than last year and the company remains on track to deliver growth and improved results for the financial year. Avon notes that all of its US government-related businesses have experienced some delays in the release of funds, which may shift certain deliveries from the Protection and Defence division into the second half of the year. The Dairy division has seen significantly higher revenues than the previous year.International Ferro Metals, which produces Ferrochrome (used in stainless steel production), revealed its production report for the quarter ended 31 December, showing a 159% jump in sales from the previous quarter, and a 117% increase from the same period last year due to strong demand in Asia. However, Ferrochrome production was 47,054 tonnes, 13% down on the previous quarter and 19% lower than 2009. Net borrowings were reduced from ZAR309m to ZAR216m over the quarter.Mobile content group Mobile Streams says that revenues for the 2010 calendar year grew by 40% to £10m, from £7.1m previously, while Mobile Internet revenues increased by more than 400%. Transport group Rotala has acquired Preston Bus Ltd (PBL) for £3.2m which "provides Rotala with a significant expansion of its activities into a new geographical area," the group said. For the year ending 30 April, PBL forecasts revenue of £9.5m.Rotala chairman John Gunn said "The extension of our network up the M6 to Preston will bring us a presence in a wholly new area of operation where the development potential is considerable. I am confident that this acquisition will much enlarge the activities of the Company and deliver further increases in shareholder value in due course."Cash machine advertising specialist i-design is "very optimistic" of strong media revenues for the first half having secured a new customer, YourCash Ltd, Europe's largest independent provider of ATM solutions, in October. As a result of the contract, its estate of ATMs offering third party advertising now stands at 9,900, and the total licensed ATM estate (including those ATM owners using i-design's solution to run their own marketing initiatives) is around 17,000.First half revenues for specialist pensions consultancy Mattioli Woods were up 12.7% to £7.43m following the "successful integration" of two pension consultancy businesses acquired in April and August. Pre-tax profit was broadly flat at £2.1m.Chairman Bob Woods says that volatility in financial markets, economic uncertainty and fiscal changes, continue to drive client demand for the group's services. Additionally, Woods "believe[s] the announcement of new pensions legislation to be incorporated in next year's finance act will put pensions at the centre of the Government's drive to revive a savings culture in the UK."Psion expects to swing to a profit before tax of £4.5m-5.5m for the year ended 31 December from a loss before tax of £3m last year. Operating losses will be in the range of £1.5m-2.5m. "Movements in the euro versus the US dollar and the pound sterling versus the Euro will have a negative effect on profits for the full year, accounting for approximately half of the estimated reduction in normalised operating profitability."The mobile computing solutions company says that revenues at constant currency will grow by 6-7%.