Small caps round-up: BTG, Arbuthnot, United Carpets...

29th Jul 2009 11:02

BTG shares rallied as its partner AstraZeneca confirmed its intention to progress severe sepsis treatment CytoFab into a Phase IIb study. This decision follows the successful completion by AstraZeneca of a Phase IIa study of CytoFab in 70 patients with severe sepsis.Arbuthnot Banking made a "satisfactory" £702,000 in the first six months of 2009, up 5% from £666,000 a year ago. Operating income fell 8.5% to £21.5m."Given the signs of momentum in all of our businesses, I am cautiously optimistic about the second half of the year," said chairman and chief executive Henry Angest. The interim dividend stays at 10.5p a share.United Carpets has had an "extremely challenging" year that saw profit before tax and exceptional items sink 21% to £1.36m, although revenue rose 26.5% to £26.79m.Like for like sales were up 1.2% in the period and trading is in line with expectations at the start of the current year, the firm said, although it admitted market conditions are likely to remain "tough".CCTV company Petards has won a £2.5m contract with the Ministry of Defence to supply electronic countermeasures equipment for Britain's helicopter fleet.Deliveries of the equipment, designed to protect aircraft from ground launched missiles, are expected to be largely completed by the end of 2009.Dragon Oil has successfully completed initial testing of the Dzheitune (Lam) 28/136 development well that was drilled to a depth of 3,075 metres. Initial testing of the long and short strings resulted in production rates of 1,841 bopd and 1,450 bopd, respectively, with further testing and optimisation scheduled to take place over the coming weeks.Hansen Transmissions saw revenue decrease by 2% in the first quarter to June, due entirely to sales of wind turbine gearboxes. The slowdown sent the group into an operating loss of €2m against a €15.2m profit.Given the continued impact of the adverse credit environment on the wind turbine industry Hansen has adjusted its financial year's guidance - from previously low to moderate revenue growth - to flat revenue for the full financial year 2010.Recycling bin maker Straight expects to announce first half results for 2009 ahead of its initial expectations. Trade Business has continued to grow, with sales for the six months to 30 June 2009 exceeding £16m, an increase of more than one third over the same period in 2008. The Retail Business has returned to profit if depreciation is excluded, Straight said. Clean energy group ITM Power posted wider losses as it continued investing in hydrogen technology.The firm posted a pre-tax loss of £5.16m in the year to April 30, from £4m the previous year.Fuel cell developer Ceramic Fuel Cells has extended its agreement with GDF Suez to develop and deploy fuel cell micro combined heat and power (mCHP) units in France. Education publisher Huveaux saw pre-tax losses rise for the half-year but said it traded in line with expectations. The group saw losses rise to £1.8m from the loss of £0.9m in the same period last year on revenue that slumped to £11.3 m from £21.7m.Technical engineering personnel provider Morson Group said trading conditions got a lot tougher in the second quarter of 2009 with June a particularly difficult month."Whilst it is too early to establish whether this trend will continue throughout the second half of the financial year, the board believes that if it were to do so, the trading performance for the full year would be below their prior expectations," the company said in a statement.