Small caps round-up: Caretech, Kirkland Lake, Paragon Diamonds...

9th Dec 2010 14:48

Care services group Caretech lifted annual profits by 20% to £18.4m, on sales of £89.7m, up by 8%. The profit increase reflects both the strong EBITDA growth and favourable year on year net financial expenses, it said. The dividend for the year is 5.5p, up 17%.Miner Kirkland Gold's second quarter net income came in at $8.6m or $0.13 per share, up from $3.3m in the first quarter and a restated net loss of $7.3m this time last year. Operating costs were $365 per ton ($809 per ounce) in Q2 of fiscal 2011, compared with $256 per ton ($709 per ounce) in the prior quarter, and $569 per ton ($2,718 per ounce) in Q2 of fiscal 2010. "Our efforts in the second half of the year will also be focused on continuing to advance the Expansion Project in order to increase production rates to 180,000 to 200,000 ounces per year and decrease average yearly operating costs per ton to $250 by the end of the Project" Kirkland said.Africa-focused Paragon Diamonds has bought 44.3% of International Diamond Consultants from Grandinex International Corp for £5.7m in shares. The deal increases Paragon's interest in the Lemphane Kimberlite project and gives it a significant interest in the Kabale licence, a diamond kimberlite exploration project in Zambia. Blinds specialist Titon has returned to a full-year profit following two years of losses because of the recession, with the performance of its core UK market "particularly pleasing". Profit before tax for the year to 30 September was £606,000 compared with a loss of £210,000 this time last year. Revenue rose to £15.6m from £14.1m in 2009.