Small caps round-up: Clean Air Power, Forbidden Tech, ProStrakan...

14th May 2009 11:07

Deals to supply supermarket Sainsbury's and dairy group Robert Wiseman helped the fuel technology group Clean Air Power post a rise in revenues and reduce losses over 2008.Pre-tax losses fell to £2.4m from £3m as turnover climbed to £6.5m from £4.7m.Internet video platform developer Forbidden Technologies narrowed pre-tax losses as it cut costs and revenues soared.Sales in 2008 rose 71% from the previous year to £121,000. Pre-tax losses narrowed to £289,000 from £685,000.Speciality pharmaceutical group ProStrakan said revenues were up by 40% in the first four months of the year, with rectal ointment Rectogesic and nausea prevention drug Xomolix among the treatments contributing to the rise. Football pools operator Sportech's year so far has continued to progress well with this football season seeing the lowest loss of customer numbers in recent years, it told shareholders at its AGM.Sarantel, a manufacturer of revolutionary antennas for mobile and wireless devices, won a contract to supply the US Navy a dual-band GPS / Iridium antenna.Cadogan Petroleum said from January to May it said oil and gas was produced from its minor fields in western Ukraine, which though modest, produced economic volumes and provide limited cash flows.The group also said the Supreme Court of Ukraine has confirmed that it will hear Cadogan's appeal against and earlier court ruling on the Pirkovskoe licenceFulcrum Pharma said pre-tax profits came in at £122,000 against £94,000 previously on revenue that rose 11% to £8.2m. "The Board and Management of Fulcrum Pharma remain convinced of the opportunity that exists to substantially grow the business through winning bigger PDC projects and building a substantial regulatory business, and these two limbs of the business strategy are progressing satisfactorily," said the group.Revenue at in-vitro diagnostics firm Axis-Shield was in line with expectations during the 18 weeks to the end of April "I am confident that Axis-Shield will continue to deliver on its commercial objectives, despite the uncertain economic climate," said chairman Nigel Keen in his AGM statement.Pamplona Capital Management is interested in buying up to 29.9% of underwriter Chaucer in a possible partial cash offer.Chaucer also announced gross written premium income rose to £257.8m in the first quarter from £181.2m a year ago, ahead of budget. It now thinks premium rates for its underwriting portfolio will rise 5.9% in 2009, up from 5.4% previously.Residential brown land buyer Inland has sold plots at three sites for a total of £2.6m. It's also been granted planning permission for 152 apartments on the site of the West Wing of Ashford Hospital in Middlesex.Property fund manager Safeland has written down the value of its assets, cutting its net asset value to a lower than expected 63p a share and raising losses for the year ended 31 March 2009 to about £8.6m.The directors claim net debt remains manageable. Results are due the week beginning 29 June.Current trading remains in line with expectations at engineering conglomerate Melrose, which sees "tentative early signs of renewed stability" in some of its markets."This, together with the effect of operational improvements and the strong cash generation still to be gained from our FKI acquisition, gives us confidence for the balance of 2009," the firm said.PR and healthcare communications firm Huntsworth said it has made a strong start to the year and is well placed to meet expectations for the first half.Football pools operator Sportech's year so far has continued to progress well with this football season seeing the lowest loss of customer numbers in recent years, it told shareholders at its AGM.IT solutions provider System C Healthcare has won a contract to design, develop and implement pilot Clinical Intelligence Systems in more than a dozen NHS Trusts across all ten English Strategic Health Authorities.Miner Sunkar Resources said phosphoric acid pilot plant production testing is currently underway at its Chilisai phosphate project in North West Kazakhstan, with three contractors in advance of appointing a Bankable Feasibility Study (BFS) engineer.The project is on target to mine 1m tonnes during 2009. 'The company is on course to announce the first results of the BFS economic model by early 2010. Thereafter, the evaluation of financing options will follow,' said Serikjan Utegen, chief executive officer of Sunkar.