Small caps round-up: BATM, London Finance, Dominion Petroleum ...

10th Nov 2010 13:38

Shares in BATM Advanced Communications surged Wednesday after the group said second half revenues will be some 14% ahead of the first, at $63m, in line with the group's full year revenue guidance of $119m.The telecoms firm also expects operating profit (excluding amortisation) of around $6m for the 6 months ending December, 362% higher than $1.3m in the first half. London Finance & Investment (Lonfin) has announced that in the four months to 31 October net assets increased by 21% from 23.3p to 28.3p per share, due to an increase of 29% in the value of "strategic investments", and of 10% in its "general portfolio". "It is disappointing that the price of the company's shares continues to trade at a significant discount to the NAV [net asset value] per share", Lonfin said. However, the improvement in the prospects for investment companies is likely to continue, the company believes.Shares in Dominion Petroleum jumped after the oil group said it had completed a seismic survey at Block 7 in deep-water area of Tanzania. 'We are extremely excited by what we already know about Block 7 and early results from the 3D support the drilling of Block 7, perhaps next year depending on rig availability,' the company said.Russia-focused oil explorer Urals Energy gushed ahead after saying drilling of the side track well 35b at the island of Sakhalin of Russia's east coast has been completed. Final flow rates will be announced next week.Vending machine group Snacktime's interim turnover increased by 19% to £4.5m (H1 2009: £3.8m). Gross Profit rose 27% to £2.9m (H1 2009: £2.3m) with pre-tax profits of £201,000. "Our focus for the remainder of the year will be on the successful integration Vendia into the existing SnackTime operations," the firm said.Europa Oil and Gas said its Barchiz-1 well in Romania has now been cased to a depth of 664 metres and preparations are being made to drill the main 8½" section of the well containing the target horizons.Green crop productivity firm Plant Health Care (PHC) has signed a research agreement with Syngenta Crop Protection to evaluate and possibly develop PHC's Harpin protein as a foliar spray in combination with a number of Syngenta's major products.The board of Plant Health Care believe that working with a major industry partner in this way is the best way to screen and identify commercial opportunities for the foliar application of Harpin proteins.