Small caps round-up: Brady, ILA, Metric Properties ...

17th Jan 2011 11:03

Brady, a maker of software for commodities traders, is up Monday on news Norway's M3 Capital will use the British firm's Elviz solution for their core energy trading and portfolio management activities. "We have developed trading strategies which have been extensively back-tested and our aim is to secure a 20% annual return for our investors," said M3's boss Bengt Staveland. "To achieve this Brady's expertise will be integral to our performance."Another Norwegian firm, consumer electronics outfit Elkjop, has put an order for $260,000 worth of products from AIM-listed ILA, the maker of personal alarms for women. ILA's Dusk personal alarms, Pebble key ring alarms, Hook handbag protectors and Wedge door alarms will be sold in Elkjop's stores across Norway, Sweden, Finland and Denmark.Real estate investment trust (REIT) Metric Property Investments has bought Channons Hill Retail Park in Bristol for £6.25m. The park, let to Currys, Lidl and Focus, comprises 63,000 sq ft of Open A1 space with an average unexpired lease term of 4.5 years. High flying promotional merchandise and marketing solutions group Altitude saw a bit of profit-taking after the group's trading update on Monday. The shares pulled back from their 52-week high after the company said profit for 2010 is expected to be in line with expectations.Group revenues are expected to show an 18% increase to about £18.1m from £15.3m in 2009, largely as a result of new account wins earlier in the year and from greater spend by existing customers. The year-end cash position was better than anticipated at £1.5m, up from £0.8m at the end of 2008.Baobab Resources' drilling on the South Zone resource at the Tete iron/vanadium/titanium project in Mozambique has delineated substantially more mineralisation than originally anticipated. Consequently, additional drill holes are being designed to further test the down dip and along strike extensions. "The results from the northern limits of South Zone published here represent an overall improvement in width, head grade and mass recovery," Baobab said.Griffin Mining's latest estimates for the Caijiaying Mine in China significantly increase estimates of the contained tonnes and metal within the Zone III mineral resource after mining depletion, but also doubles estimates of the contained tonnes of metal within the Zone II mineral resource. Overall, there is a combined 18% increase in the mineral resource at Zones II & III rising from 32.8m tonnes to 38.6m tonnes, representing a mine life of over 30 years at the increased throughput rate. Shares in Alternative Energy (AEL) jumped after the Singapore-based provider of clean energy products such as LED lighting said it had agreed a UK distribution agreement with an initial sales target of $5m (£3.15m) a year.The agreement was made with Alternative Energy Distribution, a company what was set up to distribute AEL's products.Marketing software provider Alterian said the third quarter was in line with expectations for revenue, costs and cashflow, while full-year results are fourth-quarter weighted and are difficult to predict. In a separate statement, the group announced that David Cutler is retiring from his group finance director (GKD) position and being replaced by Guy Millward, former GFD of Kewill.Shares in UK online dating group Cupid were higher as it expects to surpass full-year expectations (that were upgraded in November) for the 12 months ended 31 December. Cupid chief executive Bill Dobbie says "We are delighted with the excellent progress Cupid has made in its first six months as a public company."Data capture specialist Kofax has sold its hardware business to German private equity firm Hannover Finanz for a gross consideration of $23.2m, $15m of which will be paid at the closing of the deal, and the remainder will be paid one year after closing."We're very pleased to have effected this disposal in a manner that provides for the continuity of management, employees and key supplier and reseller relationships," said Kofax CEO Reynolds Bish.