Small caps round-up: Entertainment One, Avon Rubber, African Eagle ...

21st Jan 2010 13:01

Entertainment One, trading down at 13.5p last March, hit 65p today after predicting better than expected full-year results following a strong third quarter.The firm behind the Twilight vampire films said the film business has made excellent progress, with 97 films released so far this financial year, while the TV business continues to expand its productions with US broadcast networks.'We have a strong pipeline, and are confident that positive momentum in our business will continue',' said boss Darren Throop.Business has improved at polymer engineering company Avon Rubber since the start of October versus the year before, in line with management expectations despite holiday shutdowns.At the protection and defence business, order intake from higher margin homeland security and foreign military customers has been the best in five quarters.'Our Protection strategy is delivering progress, although the rate and timing of order wins continues to be difficult to predict,' said the firm. 'We are increasingly confident that recent improved trading by the Dairy business will be sustained.'African Eagle says results from its Dutwa nickel project in Tanzania since completing a strategic review have 'more than vindicated' the decision to concentrate on nickel.The miner has also been talking to 'several interested parties' about the sale of non-core assets and is confident agreements will be announced 'in due course'.Nickel prices have almost doubled since last February from $4.30 a pound to $8.50 today.Bad weather has delayed operations at Europa Oil & Gas's Hykeham site in Lincolnshire. The company expects to resume operations in the Hykeham-1Z well on 25 January. Morson, the provider of technical engineering personnel and project design solutions, said that the weaker trading conditions it had seen in the second quarter of 2009 continued into the second half of the year.Despite this, the company said full year profits will be 'within analyst forecasts albeit at the bottom end of expectations and below consensus market forecasts.'Brownfield site developer Inland has completed the sale of the site of a former pub in Farnborough for £1.38m, from which the company will repay £0.4m of associated debt.Inland has entered into a joint venture which has acquired an 11 acre site in Croxley Green, Hertfordshire, which has consent for the construction of 51 houses, 15 of which have already been sold to a housing association.