Small caps round-up: Bango, Faroe Petroleum, Intellego...

26th Oct 2010 11:31

Mobile payments group Bango has announced that it expect profits for the year ending 31 March 2011 to be below current market consensus.While numbers in the first half were in line with expectations, the profits downgrade is due to agreements between Bango and existing customers taking longer than expected to finalise, the group said.Oil and gas company Faroe Petroleum has agreed to acquire an 18% interest in an offshore oil field from ENI UK for £60m. The consideration for the acquisition is payable to ENI UK in cash together with the farm out agreement of a 20% interest in three Atlantic Margin exploration licences.The Blane oil field is situated in the North Sea close to Norway and currently comprises of two horizontal production wells with a gas lift and a water injection well. Average gross production rates during September were 11,964 barrels of oil equivalent per day.Shares in training and e-learning group Intellego jumped 45% after the group posted the first interim net profit in its history. Revenues were up 17% to £1m in the six months to 30 September, compared with £0.85m previously. Intellego also announced that earnings per share are now positive at 0.02p per share, up from a loss per share of 0.02p in 2009. The group swung to a pre-tax profit of £64,000 from a pre-tax loss of £323,000 the year before.Beer flow monitoring specialist Brulines' underlying trading in the half year to September is expected to be marginally below management expectations but in line with same period last year. Trading in the group's core beer monitoring business is challenging, despite good progress both in the UK and overseas with the roll-out of i-draught, the firm added. The difficult economic environment and current challenging trading conditions are set to continue for some time yet, it added.Microgen's results for the three to September were in line with expectations. Since June, the Aptitude Solutions Division has entered into a number of licence agreements and extensions with new and existing clients. Financial Systems continues to trade in line with expectations, benefiting from its high levels of recurring revenue. While the board remains cautious and prudent, Microgen remains on track to meet its expectations for the year, the statement said.