Small caps round-up: Billing Services, Playwize, EcoSecurities...

21st Aug 2009 07:57

Billing Services, which provides financial risk management solutions to the telecommunications industry, saw underlying profit rise for the half-year and said it was on track to meet expectations for the full year.For the first half, EBITDA increased to $19.2m from $17.4m before on turnover that rose 9% to $71.6m."Notwithstanding the challenging economic conditions, we remain cautiously optimistic that the Company's financial results in the second half of 2009 will be in line with first half performance. The Board continues to view the prospects of the Company with confidence," said the group.PlayWize, the software developer for the gaming industry, narrowed pre-tax losses to £321,000 in the year ended 31 March compared with a loss of £808,000 previously on turnover of £22,000 from £85,000 last time.Dutch firm Guanabara has extended its hostile 77p per share cash offer for Irish carbon credit company EcoSecurities until September 2.Guanabara, which is set up by EcoSecurities founder Pedro Moura Costa, said it had received just 12.3% acceptances at August 20, the first closing date of the offer.Newspaper group Independent News and Media said APN News and Media, the Australia and New Zealand-focused media business in which it has a 32.2% holding, posted a sharp drop in interim profits as advertising revenues continued sliding. In the six months to June 30, pre-tax profits fell to A$46.6m from A$97.1m as revenues slid to A$490.8m from A$599.8m.'Whilst we are disappointed with the outcome, given all the circumstances and the prevailing uncertainty that continues to affect our markets, we consider the results to be satisfactory,' chief executive Brendan Hopkins said.The firm said that it has seen no further deterioration in trading in July and August.